Question on: JAMB Accounting - 2022
Use the information below to answer question .
Statement of assets and liabilities as at 31st December, 2001.
Shareholders' interest N240
Current liabilities N20
Current assets N110
Fixed assets N140
What is the networking capital?
A
N90m
B
N70m
C
N100m
D
N80m
Ask EduPadi AI for a detailed answer
Correct Option: A
Let's recalculate the Net Working Capital:
Net Working Capital = Current Assets - Current Liabilities
Using the information provided:
Net Working Capital = N110m (Current Assets) - N20m (Current Liabilities) Â
Net Working Capital = N90m
So, the correct option is N90m.
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