# | |
Land and building | 20,000 |
Stock | 5,000 |
Cash in hand | 1,000 |
Profit and loss b/f | 14,000 |
Rent owing | 400 |
Creditors | 11,000 |
Furniture and fittings | 7,500 |
Motor vehicle | 12,000 |
Debtors | 13,750 |
Bank overdraft | 8,750 |
A. N57,300
B. N47,500
C. N40,000
D. N37,500
Correct Answer: Option C
C. N40,000