WAEC Financial Accounting 1991 (August) Question 17

Use the following information:
Goodwill: Dr ₦10,000
Plant and Machinery: Dr ₦32,000
Freehold premises: Dr ₦50,000
Stock: Dr ₦15,000
Debtors: Dr ₦12,500
Cash in bank: Dr ₦7,500
Cash in hand: Dr ₦2,000
Profit and Loss Account: Cr ₦34,000
Accrued rent: Cr ₦500
Sundry creditors: Cr ₦9,500
Capital: Cr (figure not given)
Totals: ₦129,000, ₦129,000

What is the value of current assets?

1. A.₦37,000
2. B.₦35,000
3. C.₦27,500
4. D.₦22,500
5. E.₦22,000.