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JAMB Accounting 2017 Objective — Question 18

Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2017 Objective paper, with the correct answer and a full explanation.

The records of a superstore show a loan of #14,000 from Bala, creditors of #8,000 and assets of #190,500. What is the firm's capital?

A. A. #168,500Correct
B. B. #196,500
C. C. #184,000
D. D. #21,000

Explanation

Capital = Assets - Liabilities = 190,500-14,000-8,000 = #168,500.

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