Amina Enterprises Balance Sheet as at 30/3/99 Liabilities ₦ Assets ₦ Share capital 400,000 Land 200,000 Reserve fund 200,000 Buildings 150,000 Creditors 110...

Circulating capital refers to the current assets that a company uses in its day-to-day operations, such as raw materials, finished goods, debtors, and cash. To determine the circulating capital, we need to add up all the current assets of the company. From the given balance sheet, the current assets are: - Raw materials = N100,000 - Finished goods = N50,000 - Debtors = N20,000 - Bills receivable = N15,000 - Cash at bank = N45,000 - Cash at hand = N5,000 Total current assets = N235,000 Therefore, the circulating capital for Amina Enterprises is N235,000. This is option (C) in the given choices.