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Danladi Bako's Statement of Affairs as at 30/06/17     ₦   ₦ Capital ??...

Accounts - Principles of Accounts
JAMB 2023

Danladi Bako's Statement of Affairs as at 30/06/17

 

  ₦  

₦
Capital ?? Fixtures and fittings 4,000
    Stock 20,500
    Sundry debtors 40,000

Creditors

 18,000 Bank ??
  78,650   78,650

What is his bank balance as at 30/06/17?

  • A. ₦14,150
  • B. ₦18,500
  • C. ₦15,300
  • D. ₦65,150
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Correct Answer: Option A
Explanation

Bank balance = 78,650 - ( 4000 + 20500 + 40000)
= 78650 - 64500
= ₦14,150

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