JAMB - Accounts Principles Of Accounts (2016 - No. 13)
Given: #
Drawings 3,500
Net loss 2,500
Capital 1.1,2007 35,000
Additional capital 10,000
The adjusted capital as at 31 : 12 : 2007 is
Drawings 3,500
Net loss 2,500
Capital 1.1,2007 35,000
Additional capital 10,000
The adjusted capital as at 31 : 12 : 2007 is
#45,000
#39, 000
#35,000
#46,000
Explanation
capital + Additional capital - Drawings - net loss
35,000 +10,000 - 2500 - 3500 = 39,000
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