Question on: WAEC Accounting - 1992
Use the following information to answer the given question
Rufai, a vulcanize bought 4 machines for N20,200 and incurred the following expenses for the year ended 31st December, 1990
\(\begin{array}{c|c} Glue & N2,100 \ Thread & N600 \ Kerosene & N900 \ Rubber & N558 \ Matched & N110\end{array}\)
He received N5,772 from customers. Two machines were later sold for N6,990 and N5,670 respectively. What is his capital receipt?
Rufai, a vulcanize bought 4 machines for N20,200 and incurred the following expenses for the year ended 31st December, 1990
\(\begin{array}{c|c} Glue & N2,100 \ Thread & N600 \ Kerosene & N900 \ Rubber & N558 \ Matched & N110\end{array}\)
He received N5,772 from customers. Two machines were later sold for N6,990 and N5,670 respectively. What is his capital receipt?
A
N18,432
B
N12,660
C
N6,990
D
N5,772
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Correct Option: B
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