Given: Fixed assets Liabilities Current assets # 55,000 20,000 13,000 What is the capital?
FINANCIAL
JAMB 2019
Given:
| Fixed assets Liabilities Current assets | # 55,000 20,000 13,000 |
What is the capital?
- A. #88,000
- B. #48,000
- C. #62,000
- D. #55,000
Correct Answer: 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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