JAMB Principles of Accounts 2010 Question 25

31/12/08: Furniture and fittings ₦21 000; Office equipment ₦9 800; Debtors ₦6 800; Creditors ₦4 900; Cash at bank ₦7 000
31/12/09: Furniture and fittings ₦28 000; Office equipment ₦13 200; Debtors ₦5 200; Creditors ₦5 100; Cash at bank ₦4 600; Accrued electricity bills ₦1 200
Monthly drawings averaged ₦330.
Find the opening capital.

1. A.₦39 700
2. B.₦35 900
3. C.₦35 740
4. D.₦43 660