As part of the initial investment, a partner contributes office equipment that originally cost ₦20,000 and on which provision for depreciation of ₦12,500 had been recorded. If the partners agree on a valuation of ₦9,000 for the equipment, what amount should be debited to the office equipment account?
Options
A) ₦7,500
B) ₦9,000
C) ₦12,500
D) ₦20,000
The correct option is B
We have WAEC, GCE, NECO, JAMB ONLINE TUTORIAL CLASS that can help you out. CLICK HERE TO GET STARTED.
FOR SHORT TUTORIAL VIDEOS ON YOUTUBE CLICK HERE AND SUBSCRIBE
