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The following is a summary of the asset and liabilities of Ojo trading company as...

Commerce
JAMB 2019

The following is a summary of the asset and liabilities of Ojo trading company as at 31st December, 2018

Initial Capital 5000
Net Profit 1000
Furniture 2000
Equipment 2900
Debtors 100
Stock 1000
Bank 500

 

From the above, calculate Fixed assets

 

  • A. 6500
  • B. 2000
  • C. 4900
  • D. 600
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Correct Answer: Option C
Explanation
Fixed Assets     N
Furniture 2000
Equipment 2900
  4900

 

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts