WAEC Financial Accounting 1999 Question 30

Hopewell Limited – Balance Sheet as at 31st December, 1998
Ordinary Share Capital N140,000; 8% Preference share N63,000; Retained earnings N40,000; 10% Debentures N60,000; Creditors N10,000; Accrued wages N12,000; total N325,000
Plant and Machinery N100,000; Furniture N62,000; Motor Van N75,000; Stock N22,000; Debtors N26,000; Bank N40,000; total N325,000
The equity capital is

1. A.N203,000
2. B.N180,000
3. C.N140,000
4. D.N88,000.