Use the following information to answer the given question
$\begin{array}{c|c} & DR & CR \\ & N & N \\ \hline \text{Goodwill} & 10,000 & \\ \text{Plant and Machinery} & 32,000& \\ \text{Freehold premises} & 50,000& \\ stock & 15,000& \\ debtors & 12,500 & \\ \text{Cash in bank} & 7,500 & \\ \text{cash in hand} & 2,000 & \\ \text{Profit and loss account} & & 34,000 \\ \text{Accrued rent} & & 500 \\ \text{Sundry creditors} & & 9500 \\ Capital & \overline{129,000} & \overline{129,000}\end{array}$
Current ratio

Similar Questions

In a departmental accounting system, which of the following expenses will most likely be apportioned...

Use the following information to answer the given question. \(\begin{array}{c|c} & ₦\\ \hli...

The financial statement which is an expression of the accounting equation is the ...

                           &nb...

\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...

The sales day Book is used to record  ...

 ₦ Capital: Opening balance                  &n...

(i) Facilitating the preparation of final accounts (ii) Making the existence of error easy to detec...

Closing stock was overstated. The effect is that ...

Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...