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JAMB Accounts Principles of Accounts 2019 Paper
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© africaexams.com
Question : 33
Total: 71
Given:
1500
3000
12,000
10,500
Validate
Solution:
Using the formula:
OC + AC + NP - D = CC
where: OC = Opening Capital
AC = Additional Capital
NP = Net Profit
D = Drawings
CC = Closing Capital
Then;
8000 + 4000 + 1500 - D = 12,000
13,500 - D = 12,000
D = 13,500 - 12,000
D = ₦1500
© africaexams.com
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