Compute the value of current assets?

NAFARA AND SONS Balance Sheet items as at 31st December, 1987.

Capital N74480

Creditors N15875

Prepaid expenses N580

Motor vehicles N34750

Furniture N35850

Accrued expenses N645

Stock N8100

Cash balances N9911

Debtors N1809

A. N20400
B. N20465
C. N35695
D. N19820

Correct Answer:

Option A – N20400