JAMB - Accounts Principles Of Accounts (2019 - No. 67)
Given:
Fixed assets Liabilities Current assets |
₦ 55,000 20,000 13,000 |
What is the capital?
₦88,000
₦48,000
₦62,000
₦55,000
Explanation
Capital = Total Assets - Total liabilities
⇒ 55,000 + 13,000 - 20,000
68,000 - 20,000
₦48,000
⇒ 55,000 + 13,000 - 20,000
68,000 - 20,000
₦48,000
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