Property a
31/12/2018
31/12/2019
N200,000
N
Equipment asse? N60,000
N90,00...
Property a
31/12/2018
31/12/2019
N200,000
N
Equipment asse? N60,000
N90,000 Clo (op - on
* Receivables? N40,000
N80,000
Cash -
N10,000
N15,000
Overdraft
N60,000
N90,000
Trade payables N50.000
N30,000
Drawings during the year were N45,000 and additional capital of N50,0
introduced. Use the above illustration to answer questions 5 to 14
What is the net profit for the year? (a)N60,000 (b)N200,000 (c)N90,000 (d)N45,00
What is the increase in net capital? (a)N50,000 (b)N65.000 (c)N60,000 (d)N40,000
What is the opening capital (a)N201,000 (b)N500,000 (c)N250,000 (d)N200.000
What is the closing capital (a)N265,000 (b)N260,000 (c)N300,000 (d)N50,000
What is the net assets for 2019 (a)265,000 (b)N290,000 (c)N200.000 (d)N260,000
What is the net assets for 2018 (a)N200,000 (b)N290,000 (c)N280,000 (d)N265,00
What is the total assets for 2019 (a)N265,000 (N385,000 (c)20,000 (d)N200,000
What is the total assets for 2018 (a)N30,000 (b)N90,000 (c)N15,000 (d)N310,000
What is the total liabilities for 2019 (a)N60,000 (b)N120,000 (c)N200,000 (d)N260
What is the total liabilities for 2018 (a)N201,000 (b)N500,000 (c)N250
(d)N110.000
Answers: 1
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