Use the following information to answer the given question
(begin{array}{c|c} & N \ hline text{10,000 ordinary shares of N1 each} & N10,000\ text{5,000 5% preference shares of N1 each} & N5,000 \ text{Profit and loss account} & N8,000 \ text{8% debenture} & 10,000 \ creditors & 3,000 \ text{Bank overdraft} & 2,000 \ text{Plants and machinery} & 10,000 \ text{Plant and machinery} & 10,000 \ text{Furniture and fittings} & 8,000 \ stock & 8,000 \ debtors & 5,000 end{array})
What is the value of shareholder’s equity?
(begin{array}{c|c} & N \ hline text{10,000 ordinary shares of N1 each} & N10,000\ text{5,000 5% preference shares of N1 each} & N5,000 \ text{Profit and loss account} & N8,000 \ text{8% debenture} & 10,000 \ creditors & 3,000 \ text{Bank overdraft} & 2,000 \ text{Plants and machinery} & 10,000 \ text{Plant and machinery} & 10,000 \ text{Furniture and fittings} & 8,000 \ stock & 8,000 \ debtors & 5,000 end{array})
What is the value of shareholder’s equity?
-
A.
N25,000 -
B.
N23,000 -
C.
N18,000 -
D.
N15,000 -
E.
N10,000