Question 36

Use the following information to answer the given question,
\(\begin{array}{c|c} & Baba & Tude\\ & N & N \\ \hline \text{Capital Accounts 1 January, 2000} & 40,000 & 50,000\\ \text{Current Accounts 1 January, 2000} & 20,000Cr & 15,000Cr \\ \text{Drawings during the year} & 4,000 & 15,000\\ Salaries & 5,000 & 5,000\end{array}\)
Interest on capital is 10%, the net profit for the year is N40,000. Tunde's Current Account balance on 31st December, 200 is

  • A.N30,000
  • B.N25,500
  • C.N25,000
  • D.N10,000
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2002
Question no.
#36
Type
Objective

More from this paper

See all Accounts - principles of accounts 2002 questions