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WAEC Accounting 2012 Paper

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Question : 47

Total: 47

Use the following information to answer the given question.
BALANCE SHEET AS AT 31st DECEMBER, 2010
&₦&&₦
───‌Capital‌&40,000&‌Freehold premises‌&50,000
‌Less: Net loss‌&‌

‌Stock‌&3,000
‌Less: Drawings‌&‌

‌Debtors‌&4,000
‌Long term loan‌&‌

‌Cash at bank‌&6,500
‌Creditors‌&8,000
‌Accrued expenses‌&‌

‌Cash in hand‌&1,500
amp;&&‌Total 65,000‌
Working capital ratio is

5 : 4
5 : 3
4 : 5
1 : 2

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