1/1/2010 31/12/2010
Creditors – #9,000 #9,800
Rent owing – #3,800 #2,500
Rates prepaid – #2,000 #3,500
Motor van – #8,000 #8,000
Premises – #10,000 #10,500
Calculate the closing capital
-
A.
#8,700 -
B.
#9,500 -
C.
#9,700 -
D.
#10,700
Correct Answer: Option C
Explanation
capital = assets – liabilities
8,000 +10,500 + 3500 – 2500 – 9800 = 9700