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question_answer Discussion Board for a Question on Quiz: Accounts - Principles of account (WAEC 2010)

46 Questions · Public · Objective · Quiz suitable for all ages

45 Click Here To Discuss Question

Use the following information to answer the question given 

Jan. 1 ₦
1/1/08 Capital introduced by cash 50,000
2/1/08 Bought goods for retail by cash 10,000
3/1/08 Sold fixtures by cash 5,000
4/1/08 Sold goods to Lagbaja on credit 3,000
5/1/08 Bought goods on credit from Tamedu 8,000

 

Balance in the Capital Account at 5/1/08 is

Select 1 Option (1 Mks)
  • ₦60,000
  • ₦50,000
  • ₦35,000
  • ₦5,000
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