Accounts - Principles of Accounts
JAMB 2001
Use the information below to answer question
Given: 31/12/98 31/12/99
Assets: Plant and Mach. N1,500 N1,200
Fixtures N700 N520
Stock N500 N600
Debtors N900 N400
Cash N200 N300
Liabilities: Creditor N500 N600
Loan N600 N400
What is the capital from the opening balance sheet?
-
A.
N3,600
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B.
N 2,700
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C.
N2,070
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D.
N1,520
Correct Answer: Option B
Explanation
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