A. ₦165,000
B. ₦635,000
C. ₦600,000
D. ₦156,000
Correct Answer: Option A
A. ₦165,000
Explanation
Using the formular
AC + DC + NP – D = CC
Where OC = Opening Capital
AC = Additional capital
NP = Net profit
D = Drawing
CC = Closing Capital
Therefore,
250,000 + P – 15,000 = 400,000
P = 400,000 – 250,000 + 15,000
P = ₦165,000
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