Question on: JAMB Accounting - 2019
Given:
Equipment Motor Vehicle Loan Creditors Sub in advance Sub in arrears | ₦ 10,000 15,000 4,500 3,000 150 3500 |
What is the accumulated fund?
A
₦14,150
B
₦20,850
C
₦21,850
D
₦14,200
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Correct Option: B
Accumulated fund = Assets - liabilities
= 10,000 + 15,000 + 3500 - 4500 + 3000 + 150
= 28,500 - 7650
= ₦20,850
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