JAMB Accounts Principles of Accounts 2010 Paper

Concept:Balance c/d is the amount needed to balance the debit side and the credit side of a ledger account.Explanation:Credit sales is 160% of the cash received.Cash received = $280{,}000$.Credit sales = $\frac{160}{100} \times 280{,}000 = 448{,}000$.Total debit side = $87{,}000 + 448{,}000 + 58{,}000 + 50{,}000 = 643{,}000$.Total credit side = $40{,}000 + 50{,}000 + 280{,}000 + 30{,}000 = 400{,}000$.Balance c/d = Debit total $-$ Credit total = $643{,}000 - 400{,}000 = 243{,}000$.Since the debit side is larger, this balance is carried down on the credit side.Answer:$N243{,}000$ (Option D).