Accounting WAEC

What is the capital?

Given:

₦
Fixed assets 55,000
Liabilities 20,000
Current assets 13,000

 

A. ₦88,000
B. ₦48,000
C. ₦62,000
D. ₦55,000

Correct Answer: Option B

B. ₦48,000

Explanation
Capital = Total Assets – Total liabilities
⇒ 55,000 + 13,000 – 20,000
68,000 – 20,000
₦48,000

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Tags: Accounting
6 years ago

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