JAMB - Accounts Principles Of Accounts (2012 - No. 26)
Given:
Fixtures-#30,000
Debtors-#7,000
Stock- #8,000
Creditors-#3,000
Goodwill-#10,000
Determine the capital
Fixtures-#30,000
Debtors-#7,000
Stock- #8,000
Creditors-#3,000
Goodwill-#10,000
Determine the capital
#10,000
#42,000
#45,000
#52,000
Explanation
30,000 + 7000 + 8000 +10,000 = 55000
55,000 - 3000 = 52,000
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