The following was extracted from the books of MEGA COMPANY NIG. LTD
The working capital of the company is ____________
| ₦ | |
| Trade debtors | 350,000 |
| Fixtures and fittings | 600,000 |
| Cash at bank | 25,000 |
| Cash in hand | 5,500 |
| Trade creditors | 116,500 |
| Bank overdraft | 7,500 |
| Building | 950,000 |
| Motor van | 35,000 |
The working capital of the company is ____________
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Correct Answer: Option D
Explanation:
Working capital = Current Assets - Current Liabilites
= (350,000 + 25,000 + 5,500) - ( 116,500 + 7,500)
= 380,500 - 124, 000
= ₦256,500
Working capital = Current Assets - Current Liabilites
= (350,000 + 25,000 + 5,500) - ( 116,500 + 7,500)
= 380,500 - 124, 000
= ₦256,500