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Use of following information to answer questions below      D Motor vehicle  500000 Stock   35000...

Accounts - Principles of Accounts
WAEC 2022

Use of following information to answer questions below

     D

Motor vehicle

 500000

Stock

  35000

Debtors

 18000

Cash

 12850

Bank overdraft

 280000

Creditors

  21500

The capital is

  • A. D 867,350
  • B. D 544,350
  • C. D 264,350
  • D. D 832,350
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
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Correct Answer: Option C
Explanation


Capital = Total Asset - Total Liabilities

= ( 500,000 + 35,000 + 18,000 +12,850) - (280,000 + 21,500)

= 264,350

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free