Use the information to answer this question...............ZEBRA PLC...........................Balance sheet as at 31st March, 2002...............N...............N............N......Capital......100,000...Fixed assets:Current................Land &..................Liabilities...........buildings..50,000......Creditors........30000..Furniture..10,000....60,000.......................Current.........................................Assets: .........................Stock .........30,000.............................Debtors.......30,000...............................Cash..........10,000......70,000...............130,000.........................130,000The business was acquired on 1st April, 2002 at a purchase consideration of N120,000 by SOZ. All assets and liabilities were taken over except the cash to open the new firm's bank account additional N20,000 was paid into the bank.Calculate the network of the business

Question

Use the information to answer this question...............ZEBRA PLC...........................Balance sheet as at 31st March, 2002...............N...............N............N......Capital......100,000...Fixed assets:Current................Land &amp;..................Liabilities...........buildings..50,000......Creditors........30000..Furniture..10,000....60,000.......................Current.........................................Assets: .........................Stock .........30,000.............................Debtors.......30,000...............................Cash..........10,000......70,000...............130,000.........................130,000The business was acquired on 1st April, 2002 at a purchase consideration of N120,000 by SOZ. All assets and liabilities were taken over except the cash to open the new firm's bank account additional N20,000 was paid into the bank.Calculate the network of the business

Lessonnotes Admin · Accepted Answer

The answer is B. N90,000.