Neco 2017 Financial Accounting Question 17
Practice objective / multiple choice question 17 from the 2017 Neco Financial Accounting examination.
Company X's income statement shows a net profit after tax of \(\text{\u20A6}84,000\). The tax rate is 20\% of profit before tax and interest expense is \(\text{\u20A6}12,000\). Depreciation expense is unknown. Cost of goods sold is \(\text{\u20A6}180,000\) and gross profit is 40\% of sales. Determine the depreciation expense.
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About This Question
This is Neco 2017 Financial Accounting Question 17. It is one of the objective questions from the 2017 Neco Financial Accounting examination.
Difficulty level: Medium .
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