A.S. Danduzu's Bank Statement Date Particulars Debit (₦) Credit (₦) Balance (₦) Jan. 1 Opening balance 10 000 Jan. 3 Bashir A.K. 1 000 9 000 Jan. 10 Usman A...
Question 1 Report
| A.S. Danduzu's Bank Statement | ||||
| Date | Particulars | Debit (₦) | Credit (₦) | Balance (₦) |
| Jan. 1 | Opening balance | 10 000 | ||
| Jan. 3 | Bashir A.K. | 1 000 | 9 000 | |
| Jan. 10 | Usman A.D. | 1 500 | 7 500 | |
| Jan. 12 | Sule A.S. | 500 | 7 000 | |
| Jan. 20 | Aliyu A.K. | 3 000 | 10 000 | |
| Jan. 30 | X | 1 500 | Y | |
The value of Y is
Answer Details
To find the value of Y, we need to calculate the total credits and debits up to Jan. 30, and then subtract the total debits from the total credits to get the final balance, which is equal to Y.
Total Credits = Opening Balance + Aliyu A.K.'s payment = ₦10,000 + ₦3,000 = ₦13,000
Total Debits = Bashir A.K.'s payment + Usman A.D.'s payment + Sule A.S.'s payment + X's payment = ₦1,000 + ₦1,500 + ₦500 + ₦1,500 = ₦4,500
Final balance = Total Credits - Total Debits = ₦13,000 - ₦4,500 = ₦8,500
Therefore, the value of Y is ₦8,500.
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