10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS
Determine the value of Ojo’s fixed assets
- N 14450
- N13450
-
N13005
- N12005
The correct answer is: C
Explanation
From the diagram above, fixed assets are made up of land and building, fittings and motor van. Hence we have;
12,000 + 850 + 1600 = 14,450
10% = \(\frac{10}{100}\) x 14,450 = 1445
14,450 - 1445 = 13,005