Question

Peter has the following assets and liabilities as on 31st December 2014.Ascertain his capital:

Cash ₹2,500; Bank ₹4750; Debtor ₹1,800; Creditor ₹2,200; Plant and Machinery ₹8,000;

Building ₹20,000; Furniture ₹2,400; Bills receivable ₹5,650: Bills Payable ₹2,350.​

Answer 1

Answer:

assets :

cash

bank

debtor

plant and machinery

building

machinery

bills payable

liabilities:

creditors

bills receivable