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Use of following information to answer questions below   D Motor vehicle 500000 Stock 35000...

Accounts - Principles of Accounts
WAEC 2022

Use of following information to answer questions below

  D
Motor vehicle 500000
Stock 35000
Debtors 18000
Cash 12850
Bank overdraft 280000
Creditors 21500

 

The total current liability is

  • A. D 301,500
  • B. D 258,500
  • C. D 264,350
  • D. D 280,000
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Correct Answer: Option A
Explanation

Total current liability = 280,000 + 21,500
= 301,500

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WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995