Purdy's business has non-current assets of £81 000, current assets of £34 000 and current liabilities of £36 000.There are no long-term liabilities.Which one of the following statements is correct?
A)Total assets are £115 000
B)Capital and liabilities are £117 000
C)Capital is £45 000
D)Total assets are £151 000

Question

Quizplus · Accepted Answer

Total assets are calculated by adding non-current assets and current assets, which gives £81 000 + £34 000 = £115 000. There are no long-term liabilities, so capital and liabilities would be the same as total assets, which is £115 000. Capital cannot be determined from the information given. Total assets are not £151 000.

Purdy's Business Has Non-Current Assets of £81 000, Current Assets