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WAEC Accounting 2018 Paper

Question : 47

Total: 50

Use the following information to amswer the question that follows

Solution:

Concept:

Shareholders’ funds are calculated by adding the company’s ordinary share capital to its retained earnings.

Explanation:

Ordinary share capital is given as

70,000

Retained earnings is given as

31,142

Therefore, total shareholders’ funds = Ordinary share capital + Retained earnings.

This gives:

70,000 + 31,142 = 101,142

Answer:

101,142

Option C.

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