Use the information below to answer questions ........................1/7/2005............30/6/2006 Drawings.....................................₦3 000 Capi...

Use the information below to answer questions

........................1/7/2005............30/6/2006

Drawings.....................................₦3 000

Capital.................25 000...............₦42 500

Furniture...............6 500...............₦10 200

Additional capital during the year amounts to 300% of the drawings.

What is the amount of the additional capital?

Answer Details

The additional capital is calculated as 300% of the drawings, which is equal to 3 times the amount of the drawings. From the information given, the drawings amount to ₦3,000 for the year. Therefore, the additional capital is calculated as 3 x ₦3,000 = ₦9,000. So, the amount of additional capital is ₦9,000.