₦ ₦ Capital 39 000 Land 20 000 Long-term Loan 15 000 Building 30 000 Creditors 9 000 Stock 4 000 Debtors 6 000 Accrued wages 5000 Cash 8 000 68 000 68 000

If at 31/1/95 the following information was ascertained (i) Rent for shop ₦12 000 paid for that year (ii) Total purchases ₦15 000 (iii) Total sales ₦8 200 (iv) Stock of goods left ₦10 000 (V) Paid Sales boy ₦500

Rakiya and Joy are in partnership and agreed that 5% interest per annum is to be charged on drawings. The drawing made by both partners in one year were: 

Adex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch. 

₦
Balance as per cash book 13,560 Unpresented cheques 5 120 Uncredited lodgments 2 300 Dividend received not entered in the cash book 2 000 Bank charges 280 Standing order payments 600 Balance as per bank statement ?

Departmental Trading Account (Extract) Total () 1-otal A- Stock 3000 2000 1000 Sales 10000 G 000 4000 Purchases 4000 2500 1500 Closing stock 2000 1500 500 Goods worth ₦300 was transferred from department Q to P. Similarly. P’s total expenses for the period was ₦200.