A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares the account to 31st December. How much is carried in the Balance Sheet at 31st December, 2000?

By: |Published on: Jun 5|Categories: Accounting WAEC| 0 comments

A. N45,000
B. N12,000
C. N9,000
D. N4,500

Correct Answer: Option C

C. N9,000

Users Also Read These:

SEE ALSO  Return inwards was understated. The effect is that?

Copyright warnings! Do not copy.