Test Index

WAEC Accounting 2022 Paper

Question : 16

Total: 50

Use the information to answer questions below

Solution:

Concept:

Fixed Assets are found by removing Current Assets from the total claims available (Capital + Liabilities).

Explanation:

Total Assets = Capital + Liabilities.

So, Fixed Assets = (Capital + Liabilities) − Current Assets.

Substitute the given values:

116,780 + 53,220 = 170,000

170,000 − 41,650 = 128,350

Answer:

Fixed Assets =

\#128,350

(Option B).

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