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Determine the owner's equity


Question

Balance Sheet of XYZ as at 31/12/2003
Ordinary share capital25 000 000Fixed assets26 000 000
Revenue reserve 10 000 000Investment22 000 000
General reserve 3 000 000Current assets5 000 000
Long-term liabilities4 000 000 
Current liabilities 11 000 000 
53 000 00053 000 000

Determine the owner's equity

Options

A)
₦38 000 000
B)
₦20 000 000
C)
₦42 000 000
D)
₦25 000 000

The correct answer is A.


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