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
Which of the following is not an item in the profit and loss account? ...
\(\begin{array}{c|c} & \text{N} \\ \hline \text{Balance as per cashbook} & 5 467 \\ \hline \...
An effect of increase in the provision for depreciation is ...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
"Transactions are governed by legal principles, but are nevertheless accounted for and presente...