Total current assets..................N2,000
Total...
Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000
Determine the capital of the business?
N9,400
N6,000
N3,400
N3,000
Correct answer is D
Capital = Assets - liabilities
Assets = Fixed assets + current assets + drawings
2000 + 4000 + 200 = 6200
Liabilities = current liabilities + longterm loans
1200 + 2000 = 3200
6200 - 3200 = 3000
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...
A trial balance is a proof of ...
Which of the following is the capital reserve of a company? ...
Which of the following account is kept by local governments in Nigeria? ...
In a trial balance, income and liabilities are? ...
Which of the following is recorded in the folio column of the journal? ...
The type of expense charged against administration of a firm is the? ...