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JAMB Accounts Principles of Accounts 2019 Paper

Question : 67

Total: 71

Given:

Solution:

Concept:

Capital is the difference between total assets and total liabilities.

Explanation:

First, find total assets by adding the given asset values:

55,000 + 13,000 = 68,000

Next, subtract total liabilities from total assets:

68,000 - 20,000 = ₦48,000

Therefore, the capital is ₦48,000.

Answer:

B. ₦48,000

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