What is the accumulated fund?

By: |Published on: Jan 10|Categories: Accounting WAEC| 0 comments

Given:

₦
Equipment 10,000
Motor Vehicle 15,000
Loan 4,500
Creditors 3,000
Sub in advance 150
Sub in arrears  3500

 

A. ₦14,150
B. ₦20,850
C. ₦21,850
D. ₦14,200

Correct Answer: Option B

B. ₦20,850

Explanation

Accumulated fund = Assets – liabilities
10,000 + 15,000 + 3500 – 4500 + 3000 + 150
28,500 – 7650
₦20,850

Users Also Read These:

SEE ALSO  Which of the following is not an administrative expense in a manufacturing organization?

Copyright warnings! Do not copy.