JAMB - Accounts Principles Of Accounts (2023 - No. 54)
Danladi Bako's Statement of Affairs as at 30/06/17
| ₦ |
₦ |
||
| Capital | ?? | Fixtures and fittings | 4,000 |
| Stock | 20,500 | ||
| Sundry debtors | 40,000 | ||
|
Creditors |
18,000 | Bank | ?? |
| 78650 | 78650 |
What is the value of Dalandi Bako's capital?
₦60,150
₦78,650
₦50,160
₦60,650
Explanation
The capital is calculated as the difference between total assets and total liabilities. Therefore, the correct answer is ₦60,650.
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