Basil Yamey is setting up a new business. Before selling anything, he bought a van for 9,000;
Question:
Basil Yamey is setting up a new business. Before selling anything, he bought a van for £9,000; a transportable market stall for £1,800; a computer for £280; and an inventory of goods for £11,200.
He did not pay in full for his inventory of goods and still owes £5,000 for them. Fie borrowed £8,000 from Luca Pacioli. After the events just described, and before trading starts, he has £900 cash in hand and £6,300 in the bank. Calculate the amount of his capital.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9781292084664
13th Edition
Authors: Alan Sangster, Frank Wood
Question Posted: