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

Assessment: JAMB UTME - Principles of Accounts - 2007 Subject: Financial Accounting

Question 1 Report

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

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

Furniture...............6 500...............₦10 200Additional capital during the year amounts to 300% of the drawings.

Calculate the net profit or loss made during the year.

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