The profit for the period is?

By: |Published on: Dec 6|Categories: Accounting JAMB| 0 comments

Given:
………………..January………….December
Assets…………….N28,320………….N25,320
Creditors………….N5,620…………..N10,320

The proprietor made drawings of N755 per month for personal use.

A. N3000
B. N1,360
C. N9060
D. N7700

Correct Answer:

Option B – N1,360

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