Ojo's Balance Sheet as at 31st December, 2006 ₦ ₦ Capital 10,000 Land and building 12,000 Drawings 600 Fittings 850 9,400 Motor vans 1,600 Profit 6,200 Cash...

Question 1 Report

Ojo's Balance Sheet as at 31st December, 2006
	₦		₦
Capital	10,000	Land and building	12,000
Drawings	600	Fittings	850
	9,400	Motor vans	1,600
Profit	6,200	Cash	2,150
	15,600	Prepayments	700
Creditors	1,800	Debtors	100
	17,400		17,400

10% IS CHARGED ON DEPRECIATION OF FIXED ASSETS

Determine the value of Ojo's fixed assets

₦14450

₦13450

₦13005

₦12005

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