Use the information below to answer question . .........................31 Dec. 05........31 Dec. 06 Total fixed
FINANCIAL
JAMB 2008
Use the information below to answer question .
.........................31 Dec. 05........31 Dec. 06
Total fixed assets.........N7 800............N6 600
Total current assets.......N12 100............N17800
Total current liabilities..N4 700............N3 800
Drawings for 2006 is N5 200.
What is the net profit for 2006?
- A. N19 000
- B. N16 000
- C. N12 600
- D. N10 600
Correct Answer: D. N10 600
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