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.
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Answer:
capital = total assets - total liabilities
= (2500+4750+1800+8000+20,000+2400+5650) - (2200+2350)
= 40,550
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