From the following figures in the accounting books of XY company, calculate its working capital : stock #2,000; cash #1,500; Creditors #1,000; Bank overdraf...

Assessment: WAEC SSCE - Commerce - 1997 (Objective) Subject: Commerce

Question 1 Report

From the following figures in the accounting books of XY company, calculate its working capital : stock #2,000; cash #1,500; Creditors #1,000; Bank overdraft #1,400
Answer Details
To calculate the working capital of the XY company, we need to subtract the current liabilities from the current assets. Current assets include stock and cash, which have a total value of #2,000 + #1,500 = #3,500. Current liabilities include creditors and bank overdraft, which have a total value of #1,000 + #1,400 = #2,400. Therefore, the working capital of the XY company is: Working capital = Current assets - Current liabilities Working capital = #3,500 - #2,400 Working capital = #1,100 Hence, the answer is #1,100.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning