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JAMB Principles of Accounts 2007 Question 45

Question 45

Trial Balance

Given:
Returns inwards ₦1 500
Cash ₦1 550
Discount received ₦2 850
Capital ₦3 800
Debtors ₦900
Sundry expenses ₦?
The value of sundry expenses is 150% of returns inwards plus 50% of debtors.
How much is sundry expenses?

  1. A.₦2 700
  2. B.₦2 250
  3. C.₦1 550
  4. D.₦2 000.
Show the answer and explanation

Answer: A (₦2 700)

Explanation

150% × 1 500 + 50% × 900 = 2 250 + 450 = ₦2 700.