Use the information below to answer this questions Capital..................N............N........ Land and building.......18470........24000.... Mortgage o...

Use the information below to answer this questions Capital..................N............N........

Land and building.......18470........24000....

Mortgage on premises...................11090...

Drawings...............3000...................

Profit and loss........................3600...

Furniture and fittings...5120.................

Motor Vehicles...........3462................

Closing Stock............3000................

Debtors..................11474...............

Creditors..............................7354.

Cash.....................1518................

..........................46044.........46044Calculate the value of fixed assets

Answer Details

The value of fixed assets is the sum of the value of land and building, furniture and fittings, and motor vehicles. Adding the value of land and building, furniture and fittings, and motor vehicles, we have: 18470 + 5120 + 3462 = ₦27,052 Therefore, the value of fixed assets is ₦27,052.