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JAMB Principles of Accounts 2007 Question 49

Question 49

Trial Balance

Given:
Bank overdraft ₦2 000
Cash ₦2 000
Furniture ₦4 000
Calculate the total amount on the credit side of the trial balance.

  1. A.₦4 000
  2. B.₦2 000
  3. C.₦6 000
  4. D.₦8 000.
Show the answer and explanation

Answer: C (₦6 000)

Explanation

Debits (cash + furniture) = ₦6 000. Capital = 6 000 − 2 000 = ₦4 000. Credits = overdraft 2 000 + capital 4 000 = ₦6 000.