Use the information below to answer questions The Assets and liabilities of U...
AccountsJAMB UTME
Question
Use the information below to answer questions
The Assets and liabilities of Udo Co.ltd. as at 31st December, 2000.
| Creditors | ₦50,000 |
| Debtors | ₦46,000 |
| Loan | ₦100,000 |
| Stock | ₦20,000 |
| Motor vehicle | ₦120,000 |
| Building | ₦70,000 |
| Accrued wages | ₦30,000 |
| Bank | ₦25,000 |
The value of capital invested by the owners is?
Options
A)
₦110,000
B)
₦105,000
C)
₦101,000
D)
₦100,000
The correct answer is C.
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