Use the following information to answer questions 11 and 12. The surplus for the year is

Use the following information to answer questions 11 and 12. The surplus for the year is

Accounts - Principles of Accounts

JAMB 2025

Use the following information to answer questions 11 and 12.

The surplus for the year is

A. #1,970
B. #1,650
C. #1,330
D. #1,890

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Correct Answer: Option B

Explanation

Total income = 460 + 520 + 500 + 490 + 670 = ₦2,640
Total payment = 200 + 540 + 140 + 110 = ₦990
Surplus = Total income − Total payment = 2,640 − 990 = ₦1,650

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Use the following information to answer questions 11 and 12. The surplus for the year is

Correct Answer: Option B

Explanation

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