Given:Capital at start.......................₦3250Capital at close ......................₦6250Additional capital during the period...₦1000 Calculate the pro...

Assessment: JAMB UTME - Principles of Accounts - 2002 Subject: Financial Accounting

Question 1 Report

Given:Capital at start.......................₦3250Capital at close ......................₦6250Additional capital during the period...₦1000

Calculate the profit or loss?

Answer Details
To calculate the profit or loss, we need to subtract the total capital invested from the final capital at close. Total capital invested = Capital at start + Additional capital during the period Total capital invested = ₦3250 + ₦1000 = ₦4250 Profit or loss = Capital at close - Total capital invested Profit or loss = ₦6250 - ₦4250 = ₦2000 Since the result is a positive value, the answer is ₦2000 profit.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning