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Use the information below to answer the questionIf at 31/1/95 the following inform...


Question

Use the information below to answer the question

Liabilities                     ₦Assets                                   ₦
Capital                        40,000         Furnishing                               10,000
 Ceiling Fan                               1,500
 Cash in Hand                         28,500
                                    40,000                                               40,000

If at 31/1/95 the following information was ascertained;

(i) rent for shop ₦12,000 paid for the year

(ii) Total purchases ₦15,000

(iii) Total sales ₦8,200

(iv) Stock of goods left ₦10,000

(v) paid sales boy ₦500

If at 31/1/95 the following information was ascertained;

(i) rent for shop ₦12,000 paid for the year

(ii) Total purchases ₦15,000

(iii) Total sales ₦8,200

(iv) Stock of goods left ₦10,000

(v) paid sales boy ₦500

Options

A) ₦22,800

B) ₦9,200

C) ₦800

D) ₦21,200

The correct answer is B.


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