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Given: Determine the balance

Accounts - Principles of Accounts
JAMB 2012

Given:

Determine the balance

  • A. 415,000 debit
  • B. 215,000 credit
  • C. 215,000 debit
  • D. 315,000
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Correct Answer: Option C
Explanation

Income = 210,000 + 80,000 + 60,000 = 350,000

Expenditure = 20,000 + 15,000 +40,000 10,000 + 50,000 = 135,000

350,000 - 135,000 = 215,000 Debit balance (income)

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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