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

Determine the net current assets

• A N 43,000
• B N 28,000
• C N13,000
• D N3,000