Given: ....................January.............December Assets................N28,320.............N25,320 Creditors.............N5,620..............N10,320 The proprietor made drawings of N755 per month for personal use....

JAMB 2006

Given:
....................January.............December
Assets................N28,320.............N25,320
Creditors.............N5,620..............N10,320

The proprietor made drawings of N755 per month for personal use.

The profit for the period is?

A. N3000
B. N1,360
C. N9060
D. N7700

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Correct Answer: Option B

Explanation

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