Accounting WAEC

What is the accumulated fund?

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

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6 years ago

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