Total current assets………………N2,000
Total fixed assets………………..N4,000
Current liabilities……………….N1,200
Drawings…………………………N200
Long-term loan……………………N2,000
A. N9,400
B. N6,000
C. N3,400
D. N3,000
Correct Answer:
Option D – N3,000
Explanation
Capital = Assets – liabilities
Assets = Fixed assets + current assets + drawings
2000 + 4000 + 200 = 6200
Liabilities = current liabilities + longterm loans
1200 + 2000 = 3200
6200 – 3200 = 3000
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