JAMB - Accounts Principles Of Accounts (2018 - No. 60)

The value of the current assets will be?
N10,361
N10,651
N17,396
N17,848

Explanation

The current assets is the summation of all balance sheet assets that can be converted to cash within one year or less. Current assets include cash, cash equivalents, inventory, accounts receivables, prepaid expenses, and marketable securities. From the above table, the following make up current assets; prepaid expenses + stock + debtors +cash balance. Hence we have;

current assets = 290+4,500+4,956+905= 10,651

Comments (0)

Advertisement