Use the information below to answer this question At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of ₦...

Assessment: JAMB UTME - Principles of Accounts - 2021 Subject: Financial Accounting

Question 1 Report

Use the information below to answer this question
At the end of a financial period, the trading profit and loss account of a sole trader shows a profit of
₦180,000 it is however discovered that revenue of
₦15,000 is recorded as expenses while expenses of
₦4,000 is recorded as revenue.

Determine the adjusted net profit

₦202,000

₦210,000

₦195,000

₦184,000