Use the following information to answer the giv... - WAEC Accounting 1999 Question
Use the following information to answer the given question
\(\begin{array}{c|c} & N & & N \ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \ \text{10% Debentures} & 60,000 & Stock & 22,000 \ Creditors & 10,000 & Debtors & 26,000 \ \text{Accrued wages} & 12,000& Bank & 40,000 \ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the current ratio?
\(\begin{array}{c|c} & N & & N \ \hline \text{Ordinary Share Capital} & 140,000 & \text{Plant and Machinery} & 100,000 \ \text{80% Preference share} & 63,000 & \text{Furniture} & 62,000 \ \text{Retained earnings} & 40,000 & \text{Motor Van} & 75,000 \ \text{10% Debentures} & 60,000 & Stock & 22,000 \ Creditors & 10,000 & Debtors & 26,000 \ \text{Accrued wages} & 12,000& Bank & 40,000 \ & \overline{325,000} & & \overline{325,000}\end{array}\)
What is the current ratio?
A
4 : 1
B
3 : 1
C
2 : 1
D
1 : 1
correct option: a
Please share this, thanks:
Add your answer
No responses