Determine the capital balance as at Dec. 31,2005?

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.
Determine the capital balance as at Dec. 31,2005?

A N20 600

B N15 200

C N13 800

D N11 600

Answer is B

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