........................31/12/08...........31/12/09
...
........................31/12/08...........31/12/09
Furniture and fittings..N21,000,............N28,000
Office equipment........N9,800,.............N13,200
Debtors.................N6,800,.............N5,200
Creditors...............N4,900,.............N5,100
Cash at bank............N7,000,.............N4,600
Accrued electricity bills...................N1,200
Monthly drawings average N330.
Find the opening capital?
N39,700
N35,900
N35,740
N43,660
Correct answer is A
Furniture & fittings + office equipt. + debtors + cash at bank - creditors
21000 + 9800 + 7000 + 6800 - 4900 = 39700
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