Question 47
Company AccountsUse the following information to answer questions 47 and 48.
Ordinary share capital: Le 70,000
Retained earnings: Le 31,142
Motor vehicle at cost: Le 21,136
Accumulated depreciation-motor vehicle: Le 7,109
Furniture and fittings at cost: Le 1,334
Accumulated depreciation-Furniture of fittings: Le 1,007
Stock: Le 32,200
Debtors: Le 49,380
Bank: Le 15,953
Creditors: Le 11,329
Equity holders fund is
- A.Le 112,471.
- B.Le 111,834.
- C.Le 101,142.
- D.Le 70,000.
Show the answer and explanation
Answer: C (Le 101,142.)
Explanation
70,000 + 31,142 = Le 101,142.