Accounting JAMB

The records of Superstores shows a loan of #14000 from Bala; creditor #8000 and assets #190500. What is the firm’s capital?

A. #184, 000
B. #196,500
C. #212,000
D. #168,500

Correct Answer:

Option D – #168,500

Explanation

The net working capital formula is calculated by subtracting the current liabilities from the current assets.
Assets = 190,500
liabilities = 14,000 + 8,000 = 22,000
190,500 – 22,000 = 168,000 (capital)

Sunday

Share
Published by
Sunday
Tags: Accounting

Recent Posts

OOU JUPEB Admission For Agricultural Extension

Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Agricultural Economics

Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Cooperative and Business Management

Do you want to study Cooperative and Business Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Home and Hotel Management

Do you want to study Home and Hotel Management in OOU? Before you apply for…

11 months ago

OOU JUPEB Admission For Animal Production

Do you want to study Animal Production in OOU? Before you apply for the OOU…

11 months ago

OOU JUPEB Admission For Crop Production

Do you want to study Crop Production in OOU? Before you apply for the OOU…

11 months ago