Use the information below to answer question Given: 31/12/98 31/12/99 Assets: Plant and Mach. N1,500...

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

Determine the total fixed assets from the opening balance sheet?

A. N2,200
B. N2,020
C. N1,720
D. N2,070

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Correct Answer: Option B

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