Jeng Limited disposed a fixed asset in 1999 for N2,000. The asset was purchased in 1996 at a cost of N10,000 and has been depreciated at the rate of 20% per annum using the straight line method. What is the profit or loss on the disposal asset?

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Jeng Limited disposed a fixed asset in 1999 for N2,000. The asset was purchased in 1996 ...

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