Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Furniture and Fittings} & 15,000 \\ \text{Land and build...

Answer Details

To calculate the value of current liabilities, we need to identify the liabilities that are expected to be paid within the next 12 months. These include the bank overdraft, rent owing, and sundry creditors. Bank overdraft: N17,500 Rent owing: N800 Sundry creditors: N22,000 Adding these amounts together, we get: N17,500 + N800 + N22,000 = N40,300 Therefore, the value of current liabilities is N40,300. The label for this answer would be: current liabilities, value, calculation.