Use the following information to answer the giv... - WAEC Accounting 1999 Question
Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \ \text{10% Debentures} & 60,000 & Stock & 22,000 \ Creditors & 10,000 & Debtors & 26,000 \ \text{Accrued wages} & 12,000& Bank & 40,000 \ & \overline{325,000} & & \overline{325,000}\end{array}\)
The equity capital is
\(\begin{array}{c|c} & N & & N \ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \ \text{10% Debentures} & 60,000 & Stock & 22,000 \ Creditors & 10,000 & Debtors & 26,000 \ \text{Accrued wages} & 12,000& Bank & 40,000 \ & \overline{325,000} & & \overline{325,000}\end{array}\)
The equity capital is
A
N203,000
B
N180,000
C
N140,000
D
N88,000
correct option: b
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