» Given:

Authorized Capital: N

100,000 ordinary shares of N 1 eash

Issued and fully paid:

50,000 ordinary shares of N 1 each 50,000

10, 000 8% perference shares

of N 1 each

Reserves 10,000

Creditors 25,000

Debtors 13 000

Cash in hand 5000

Calculate the shareholders fund

• A N 60,000
• B N75,000
• C N85,000
• D N185,000