1/1/2010 31/12/2010

Creditors - #9,000 #9,800

Rent owing - #3,800 #2,500

Rates prepaid - #2,000 #3,500

Motor van - #8,000 #8,000

Premises - #10,000 #10,500

Calculate the closing capital

  • A #8,700
  • B #9,500
  • C #9,700
  • D #10,700
jamb 2013accounting

The correct answer is C. #9,700

capital = assets - liabilities

8,000 +10,500 + 3500 - 2500 - 9800 = 9700

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