Kwame runs a trading business in Accra. At 31 December 2024, his business has the following:
- Premises $120,000
- Trade payables $8,500
- Trade receivables $12,400
- Bank loan (repayable 2028) $30,000
- Inventory $9,600

What is the total of Kwame's current assets?

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Question

Kwame runs a trading business in Accra. At 31 December 2024, his business has the following:
- Premises $120,000
- Trade payables $8,500
- Trade receivables $12,400
- Bank loan (repayable 2028) $30,000
- Inventory $9,600

What is the total of Kwame's current assets?

Accepted Answer

$22,000 — Award 1 mark for correct calculation: Trade receivables $12,400 + Inventory $9,600 = $22,000. B is incorrect — includes premises which is a non-current asset. C is incorrect — includes premises and excludes inventory. D is incorrect — adds all assets including premises.

Answer

$129,600

Answer

$141,600

Answer

$22,000

Answer

$142,000

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