Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 ...
Question 1 Report
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
What is the total assets?
\(\begin{array}{c|c} & N \\ \hline \text{Fixed assets} & 12,000 \\ \text{Current assets} & 5,000 \\ \text{Current liabilities} & 2,300 \\ Capital & 10,000 \\ \text{Long term liabilities} & 4,700\end{array}\)
What is the total assets?
Answer Details
To find the total assets of the company, we need to add the fixed assets and current assets.
Fixed assets = N12,000
Current assets = N5,000
Total assets = Fixed assets + Current assets
Total assets = N12,000 + N5,000
Total assets = N17,000
Therefore, the total assets of the company are N17,000. The correct answer is.
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