Use the information below to find the working capital of the business # Sales 50,000.00 Debtors 10,000.00 Cash in hand 5,000.00 Opening stock 30,000.00 Cred...

Assessment: JAMB UTME - Commerce - 2022 Subject: Commerce

Question 1 Report

Use the information below to find the working capital of the business

#
Sales 50,000.00
Debtors 10,000.00
Cash in hand 5,000.00
Opening stock 30,000.00
Creditors 8,000
Answer Details
Working capital = Current assets - Current liabilities
= (debtors + cash in hand + closing stock ) - ( overdraft + creditors)
= (10,000 + 5,000 + 10,000 ) - (8,000 + 12,000)
= 25,000 - 20,000
= 5,000

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