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
A
#22,800
B
#9,200
C
#800
D
#21,200
correct option: b
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