Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

The data below have been taken from a business statement of financial position at 31 December 2016: bank loan (repayable 2025) $16200, other payables $1880, bank overdraft $11600, capital $20710, drawings $19100, inventory $14610, other receivables $1420, trade payables $14110, trade receivables $9050. Calculate the value of the net current liabilities.

  • A$1590
  • B$2510
  • C$18710
  • D$20320

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