IF LIABILITIES AMOUNTED TO N12,045, OTHER ASSETS N36,800 AND EQUITY N26,896, THE CASH AT HAND WOULD BE
January 30, 2024
- 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.