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Given: # Drawings 3,500 Net loss 2,500 Capital 1.1,2007 35,000 Additional capital 10,000 The adjusted...

Accounts - Principles of Accounts
JAMB 2016

Given: #
Drawings 3,500
Net loss 2,500
Capital 1.1,2007 35,000
Additional capital 10,000
The adjusted capital as at 31 : 12 : 2007 is

  • A. #45,000
  • B. #39, 000
  • C. #35,000
  • D. #46,000
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Correct Answer: Option B
Explanation

capital + Additional capital - Drawings - net loss

35,000 +10,000 - 2500 - 3500 = 39,000

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