JAMB - Accounts Principles Of Accounts (2025 - No. 2)
A computer set bought for #150,000 was disposed for #45,000 after some years of use. The profit on disposal was #7,500. Accumulated depreciation at the time of disposal was
#112,500
#105,000
#97,500
#37,500
Explanation
Accumulated depreciation
= Cost − Disposal price − Profit
= ₦150,000 − ₦45,000 − ₦7,500
= ₦97,500.
= Cost − Disposal price − Profit
= ₦150,000 − ₦45,000 − ₦7,500
= ₦97,500.
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