A proprietor started business with #13,000. Assets and liabilities at the end of the year;…

Accounts - Principles of Accounts JAMB 2016

A proprietor started business with #13,000. Assets and liabilities at the end of the year; fixed assets #8,800, stock #, 600, debtors #1,000, cash #3, 000 and creditors #1,000. Determine the profit for the year?

  • #2,400
  • #3,000
  • #9,800
  • #1,400 checkmark

The correct answer is: D

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