Musa merchants Trading and profit and Loss Account for the year ended Dec. 31st; 2003 Determine the closing stock By: Sunday|Published on: Dec 7|Categories: Accounting JAMB| 0 comments A. N20 000 B. N30, 000 C. N40 000 D. N50,000 Correct Answer: Option C – N40 000 Users Also Read These:Determine the total expenses to be charged to profit…In the trading and profit and loss account of a…Interest on drawings is 5%, interest on capital is…Interest on capital is 10%. The net profit for the…A trader paid insurance premium of N45,000 for 15…SEE ALSO Head office sends goods to its branch at cost plus mark-up of of 25%. A debit of N40,000 to the branch stock account in the head office books will indicate that the head office has sent goods with a profit of?