Use the following to answer the given question

BALANCE SHEET:
\(\begin{array}{c|c} & N & & N \\ \hline \text{Ordinary share capital} & 100,000 & \text{Plant and Machinery} & 60,000 \\ \text{6% preference share capital} & 60,000 & Furniture & 50,000 \\ Reserve & 20,000 & \text{Motor van} & 68,000 \\ & 180,000 & Stock & 14,000 \\ \text{10% Debentures} & 40,000 & Debtors & 36,000 \\ Creditors & 25,000 & Prepyments & 1,800 \\ \text{Accrued Rent} & 3,000 & bank & 18,200 \\ Total & N248,000 & & N248,000 \end{array}\)

What is the net total of assets

Similar Questions

The authority of the Accountant General to disburse from government fund is called ...

If the total discount allowed in a cash book was N230 and the total discount received was N255, whic...

Which of the following is source of document for the preparation of debtors' ledger account? ...

The process whereby a cheque received by one person is given to another is known as? ...

When assets are realized during a partnership dissolution, the entries for the proceeds are to debit...

Tale LTd. has 100,000 ordinary shares of ₦1 each and 60,000 5% preference shares of ₦1 each. Bot...

Sundry debtors in the balance sheet of Onoja Bakery and Sons totaled N800,000. A provision for bad a...

The following transactions relate to Osei Enterprises for the year ended 31st December 2020. ...

Profits are recognised when goods are sold. What concept is this? ...

Bar opening stock N10,000 Amount owed to bar suppliers at  the end the beginning of the year ...