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Balance sheet (Extract) Creditors #7,940 Prepaid expenses # 290 Accrual expenses # 323 Stock #4,500...

Accounts - Principles of Accounts
JAMB 2014
Balance sheet (Extract)

Creditors #7,940
Prepaid expenses # 290
Accrual expenses # 323
Stock #4,500
Cash balance #4,956
Debtors # 905

The value of the current assets will be
  • A. #10,361
  • B. #10,651
  • C. #17,396
  • D. #17,848
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Correct Answer: Option B
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