CORRECT ANSWER A. OPENING BALANCE
143.
Correct answer a.
Opening balance:
$2,000,000
January
+2,000,000
=
$4,000,000 x .04 =
+160,000
February
+1,000,000
=
$5,000,000 x .04 =
+200,000
March
-5,000,000
=
0
April
-3,000,000
=
$3,000,000 x .08 =
-240,000
May
-2,000,000
=
$5,000,000 x .08 =
-400,000
June
+6,000,000
=
$1,000,000 x .04 =
+ 40,000
-240,000 ÷ 12 = 20,000