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Use the information below to answer questions Total current assets..................N2,000 Total fixed assets....................N4,000 Current liabilities...................N1,200...

Accounts - Principles of Accounts
JAMB 2009

Use the information below to answer questions

Total current assets..................N2,000
Total fixed assets....................N4,000
Current liabilities...................N1,200
Drawings..............................N200
Long-term loan........................N2,000

What is the net working capital?

  • A. N2,600
  • B. N1,800
  • C. N800
  • D. N600
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Correct Answer: Option C
Explanation

Working capital = current assets - current liabilities

2000 - 1200 = 800

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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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 and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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