Home » Past Questions » Accounts » Use the following information to answer the given question:\(\begin{array}{c|c} & ₦ \\ \hline \text{10,000 ordinary shares of ₦1 each} & ₦10,000\\ \text{5,000 5% preference shares of ₦1 each} & ₦5,000 \\ \text{Profit and loss account} & ₦8,000 \\ \text{8% debenture} & 10,000 \\ creditors & 3,000 \\ \text{Bank overdraft} & 2,000 \\ \text{Plants and machinery} & 10,000 \\ \text{Plant and machinery} & 10,000 \\ \text{Furniture and fittings} & 8,000 \\ stock & 8,000 \\ debtors & 5,000 \end{array}\)What is the value of shareholder's equity?...

Use the following information to answer the given question:\(\begin{array}{c|c} & ₦ \\ \hline \text{10,000 ordinary shares of ₦1 each} & ₦10,000\\ \text{5,000 5% preference shares of ₦1 each} & ₦5,000 \\ \text{Profit and loss account} & ₦8,000 \\ \text{8% debenture} & 10,000 \\ creditors & 3,000 \\ \text{Bank overdraft} & 2,000 \\ \text{Plants and machinery} & 10,000 \\ \text{Plant and machinery} & 10,000 \\ \text{Furniture and fittings} & 8,000 \\ stock & 8,000 \\ debtors & 5,000 \end{array}\)What is the value of shareholder's equity?...


Question

Use the following information to answer the given question:

\(\begin{array}{c|c} & ₦ \\ \hline \text{10,000 ordinary shares of ₦1 each} & ₦10,000\\ \text{5,000 5% preference shares of ₦1 each} & ₦5,000 \\ \text{Profit and loss account} & ₦8,000 \\ \text{8% debenture} & 10,000 \\ creditors & 3,000 \\ \text{Bank overdraft} & 2,000 \\ \text{Plants and machinery} & 10,000 \\ \text{Plant and machinery} & 10,000 \\ \text{Furniture and fittings} & 8,000 \\ stock & 8,000 \\ debtors & 5,000 \end{array}\)

What is the value of shareholder's equity?

Options

A) ₦25,000

B) ₦23,000

C) ₦18,000

D) ₦15,000

E) ₦10,000

The correct answer is B.


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