Bonto Limited has the following assets and liabilities as at 01/01/2024. Calculate the following: (i) total fixed assets; (ii) total current assets; (iii) total liabilities; (iv) working capital; (v) capital employed.

Okay Uncle, let's calculate these financial figures for Bonto Limited.

Step 1: Identify and classify assets and liabilities

• Fixed Assets:
  • Fixtures: ₦350,000
  • Motor vehicles: ₦800,000
• Current Assets:
  • Stock: ₦200,000
  • Debtors: ₦200,000
  • Cash: ₦40,000
  • Bank: ₦70,000
• Current Liabilities:
  • Overdraft: ₦50,000
  • Creditors: ₦20,000

Step 2: Calculate total fixed assets

$$\text{Total Fixed Assets} = \text{Fixtures} + \text{Motor vehicles}$$ $$\text{Total Fixed Assets} = \text{₦}350,000 + \text{₦}800,000 = \text{₦}1,150,000$$