passwella.
Menu

WAEC Financial Accounting 2026 Question 28

Question 28

Incomplete Records

Use the following information to answer questions 27 and 28.
Capital (1/1/2024): Le 364,000
Capital (31/12/2024): Le 349,000
Drawings: Le 48,000
Additional capital introduced: Le 20,000
The change in capital balances for the year 2024 is

  1. A.increase of Le 20,000
  2. B.increase of Le 15,000
  3. C.decrease of Le 5,000
  4. D.decrease of Le 15,000
Show the answer and explanation

Answer: D (decrease of Le 15,000)

Explanation

Capital fell from 364,000 to 349,000, a decrease of Le 15,000.