Luca Pacioli is setting up a new business. Before actually selling anything, he bought a van for

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Luca Pacioli is setting up a new business. Before actually selling anything, he bought a van for £13,000, a transportable market stall for £1,050; a computer for £450; and an inventory of goods for £8,000. He did not pay in full for his inventory of goods and still owes £3,000 for them. He borrowed £10,000 from Basil Yamey. After the events just described, and before trading starts, he has £1,400 cash in hand and £4,700 in the bank. Calculate the amount of his capital.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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