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Use the information to answer questions below Years Current Assets Liabilities Fixed Assets Capital  ...

Accounts - Principles of Accounts
WAEC 2022

Use the information to answer questions below

Years Current Assets Liabilities Fixed Assets Capital
  # # # #
2018 52550 78600 127450 X
2017 41650 53220 Y 116780

 


The letter X represents

  • A. #78,600
  • B. #180,000
  • C. #101,400
  • D. #258,600
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Correct Answer: Option C
Explanation

X (Capital) = Total Assets - Total Liabilities

= (52,550 + 127,450) - 78,600

= 180,000 - 78,600

= 101,400

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WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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