Question
From the Balance Sheet given below, calculate:
- Fixed Assets.
- Current Assets.
- Current Liabilities.
- Working Capital.
✓
Answer
- Fixed Assets = Land + Plant + Furniture + Goodwill
- Current Assets = Stock + Debtors + Prepaid Expenses
- Current Liabilities = Creditors + Expenses Accrued + Bank Overdraft + Interest on Loan
- Working Capital = Current Assets - Current Liabilities
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