Example $-$Incomplete records

Using Statement of Affairs to determine opening

capital

Example: $H.$ Williams assets and liabilities on ${31}^{st}$

December $2014$ were as follow:

Assets: Van $$6,000,$ Fixtures $$1,800,$ Inventory

$$3,000,$ Accounts Receivable $$4,100,$ Bank $$4,800$

and Cash $$200.$

Liabilities: Accounts payable $$1,200,$ Loan $$3,500$

Requirement: Calculate the opening capital as at ${31}^{st}$

December $2014$sing Statement of Affairs to determine opening capital$$

Example: H$.$ Williams assets and liabilities on $31$st December $2014$ were as follow:$$

Assets: Van $$6,000,$ Fixtures $$1,800,$ Inventory $$3,000,$ Accounts Receivable $$4,100,$ Bank $$4,800$ and Cash $$200.$

$$

Liabilities: Accounts payable $$1,200,$ Loan $$3,500$

Requirement: Calculate the opening capital as at $31$st December $2014$