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WAEC Accounting 2022 Paper

Question : 1

Total: 50

Use of following information to answer questions below

Solution:

Concept:

Capital is the amount left after subtracting total liabilities from total assets.

Explanation:

Total Assets =

500,000 + 35,000 + 18,000 + 12,850

Total Assets =

565,850

Total Liabilities =

280,000 + 21,500

Total Liabilities =

301,500

Capital = Total Assets - Total Liabilities

Capital =

565,850 - 301,500

Capital =

264,350

Answer:

\mathrm{D}\,264,350

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