Question 8

Use the following information to answer the question given
\(\begin{array}{c|c} \text{Jan. 1} & \text{₦}\\ \hline \text{1/1/08 Capital introduced by cash} & 50,000 \\ \text{2/1/08 Bought goods for retail by cash} & 10,000\\ \text{3/1/08 Sold fixtures by cash} & 5,000\\ \text{4/1/08 Sold goods to Lagbaja on credit} & 3,000\\ \text{5/1/08 Bought goods on credit from Tamedu}& 8,000\end{array}\)
Balance in the Capital Account at 5/1/08 is

  • A.₦60,000
  • B.₦50,000
  • C.₦35,000
  • D.₦5,000
Objective

Question details

Exam body
WAEC
Subject
Accounts - principles of accounts
Year
2010
Question no.
#8
Type
Objective

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