The owner wishes to maintain an amount equal to \( \frac{1}{3} \) of capital as…

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Accounts - Principles of Accounts JAMB 2004

The owner wishes to maintain an amount equal to \( \frac{1}{3} \)
of capital as drawings.

The cash book closing balance will be

  • N900
  • N2,400 checkmark
  • N4,200
  • N4,600

The correct answer is: B

Explanation

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