GENERAL KNOWLEDGE

IF LIABILITIES AMOUNTED TO N12,045, OTHER ASSETS N36,800 AND EQUITY N26,896, THE CASH AT HAND WOULD BE

  • A. N2,241
  • B. N2,214
  • C. N2,141 ✓
  • D. N2,114

 

The answer to the question is: C. N2,141

To calculate the cash at hand, we can use the accounting equation:

Assets = Liabilities + Equity

Given:

Liabilities = N12,045

Other assets = N36,800

Equity = N26,896

We can rearrange the accounting equation to solve for assets:

Assets = Liabilities + Equity Assets = N12,045 + N26,896

Assets = N38,941

Now, to find the cash at hand, we subtract other assets from the total assets:

Cash at hand = Total assets – Other assets

Cash at hand = N38,941 – N36,800

Cash at hand = N2,141

Therefore, the cash at hand would be N2,141.

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