JAMB - Accounts Principles Of Accounts (2021 - No. 26)

Use the information below to answer this question
Zahki Plc balance sheet (extract) as at 31st December 1997.

  ₦ ₦
Paid up capital 200,000 Fixed assets  300,000
Share premium  15,000 
Profit and loss account 60,000  Investment 180,000
Long-term loan 180,000  Stock  28,000
  Debtors  90,000
Creditors  200,000  provision(3000)  87,000
Other current liabilities  100,000 Cash 60,000
  Bank 100,000
  755,000   755,000 

Determine the owner's equity

₦275,000
₦200,000
₦755,000
₦215,000

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