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Given: Equipment Motor Vehicle Loan Creditors Sub in advance Sub in arrears ₦ 10,000 15,000...

Accounts - Principles of Accounts
JAMB 2019

Given:


Equipment
Motor Vehicle
Loan
Creditors
Sub in advance
Sub in arrears		 ₦
10,000
15,000
4,500
3,000
150
3500

What is the accumulated fund?

  • A. ₦14,150
  • B. ₦20,850
  • C. ₦21,850
  • D. ₦14,200
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Correct Answer: Option B
Explanation

Accumulated fund = Assets - liabilities
10,000 + 15,000 + 3500 - 4500 + 3000 + 150
28,500 - 7650
₦20,850

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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 Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
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
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now