Lucy had the following balances on her trial balance at 30 June 2024: Trade receivables of £21,000, inventories of £34,500, balance at bank of £2,020, accruals of £1,200, loan of £11,000 repayable on 31 March 2025, and motor vehicles with a value of £30,000. What is the value of Lucy's non-current assets and current assets at 30 June 2024?

Question

Quizplus · Accepted Answer

Non-current assets include motor vehicles valued at £30,000. Current assets include trade receivables (£21,000), inventories (£34,500), and balance at bank (£2,020), totaling £57,520.

Lucy Had the Following Balances on Her Trial Balance at 30