A Smart sets up a new business. Before he actually sells anything, he has bought motor vehicle
Question:
A Smart sets up a new business. Before he actually sells anything, he has bought motor vehicle £2,000, premises £5,000, stock of goods £1,000. He did not pay in full for his stock of goods and still owes £400 in respect of them. He had borrowed £3,000 from D Bevan. After the events just described, and before trading starts, he has £100 cash in hand and £700 cash at bank.
You are required to calculate the amount of his capital.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: