Use the information below to answer the questio... - JAMB Accounting 2018 Question

Use the information below to answer the question

 

Liabilities                     ₦	Assets                                   ₦
Capital                        40,000	Furnishing                               10,000
	Ceiling Fan                               1,500
	Cash in Hand                         28,500
40,000	40,000

 

If at 31/1/95 the following information was ascertained;

  (i). rent for shop #12,000 paid for the year

  (ii). Total purchases #15,000

  (iii). Total sales #8,200

  (iv). Stock of goods left #10,000

  (v). paid sales boy #500

 

If at 31/1/95 the following information was ascertained;

  (i). rent for shop #12,000 paid for the year

  (ii). Total purchases #15,000

  (iii). Total sales #8,200

  (iv). Stock of goods left #10,000

  (v). paid sales boy #500

 

  What is the balance on its cash account as at 31/1/95