Lucy Had the Following Balances on Her Trial Balance at 30

question 3

Multiple Choice

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?

• A) Non-current assets of £30,000 and current assets of £36,520.
• B) Non-current assets of £nil and current assets of £58,720.
• C) Non-current assets of £nil and current assets of £57,520.
• D) Non-current assets of £30,000 and current assets of £57,520.

---

Definitions:

Third Country

Refers to a country that is neither the home country nor the host country of the business involved, often in the context of international trade or operations.

Host Country

The country in which a multinational corporation operates a facility outside of its home nation.

Parent Country

The country in which the headquarters of a multinational company is located.

Collectivist Nature

The tendency of cultures or organizations to prioritize the group over individual achievements or desires.