Question on: WAEC Accounting - 2007
Use the following information to answer the given question
\(\begin{array}{c|c} & ₦ \ \hline \text{Opening balance} & 1,894 Dr \ \text{Cheques received from customers} & 7,286\ \text{Cash received from customers} & 1,236 \ \text{Returned from customers} & 296 \ \text{Closing balance} & 3,368 Dr\end{array}\)
The closing balance of ₦3,368 Dr is classified in the balance sheet as a
\(\begin{array}{c|c} & ₦ \ \hline \text{Opening balance} & 1,894 Dr \ \text{Cheques received from customers} & 7,286\ \text{Cash received from customers} & 1,236 \ \text{Returned from customers} & 296 \ \text{Closing balance} & 3,368 Dr\end{array}\)
The closing balance of ₦3,368 Dr is classified in the balance sheet as a
A
fixed asset
B
current asset
C
current liability
D
capital
Ask EduPadi AI for a detailed answer
Correct Option: B
Add your answer
Please share this, thanks!
No responses