Given:

Determine the balance

  • A 415,000 debit
  • B 215,000 credit
  • C 215,000 debit
  • D 315,000
jamb 2012accounting

The correct answer is C. 215,000 debit

Income = 210,000 + 80,000 + 60,000 = 350,000

Expenditure = 20,000 + 15,000 +40,000 10,000 + 50,000 = 135,000

350,000 - 135,000 = 215,000 Debit balance (income)

Previous question Next question