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JAMB Commerce 1994 Question 10

Question 10

Business Calculations

Use the balance sheet of MBV Enterprises as at 31st December, 1992 shown to answer this question. What is the working capital as at December 31, 1992?

Diagram for this question
  1. A.₦65 250
  2. B.₦60 000
  3. C.₦48 650
  4. D.₦41 950
Show the answer and explanation

Answer: D (₦41 950)

Explanation

Working capital = current assets − current liabilities = 51 680 − 9 730 = ₦41 950.