Given: General expenses account. Paid by cheque..................N671 Paid by cash....................N70 Accrued b/f.....................N65 Accrued c/f.....................N115 Determine...

JAMB 2004

Given:
General expenses account.
Paid by cheque..................N671
Paid by cash....................N70
Accrued b/f.....................N65
Accrued c/f.....................N115

Determine how much to be charged to profit and loss account?

A. N606
B. N786
C. N791
D. N856

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Correct Answer: Option C

Explanation

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