Given:
| Fixed assets Liabilities Current assets | ₦ 55,000 20,000 13,000 |
What is the capital?
A
₦88,000
B
₦48,000
C
₦62,000
D₦55,000
Answer is B
Capital = Total Assets – Total liabilities
= 55,000 + 13,000 – 20,000
= 68,000 – 20,000
= ₦48,000
Tutors, Past Questions and Projects.
Given:
| Fixed assets Liabilities Current assets | ₦ 55,000 20,000 13,000 |
What is the capital?
A
₦88,000
B
₦48,000
C
₦62,000
D₦55,000
Answer is B
Capital = Total Assets – Total liabilities
= 55,000 + 13,000 – 20,000
= 68,000 – 20,000
= ₦48,000
