Given: Fixtures-#30,000 Debtors-#7,000 Stock- #8,000 Creditors-#3,000 Goodwill-#10,000Determine the capital

Answer Details

Capital is the amount of money that an individual or a company has invested in a business, which represents the ownership interest. It can be calculated by subtracting liabilities from assets. In this case, the assets are: - Fixtures: #30,000 - Debtors: #7,000 - Stock: #8,000 - Goodwill: #10,000 Total assets: #30,000 + #7,000 + #8,000 + #10,000 = #55,000 Liabilities are amounts owed to others, in this case: - Creditors: #3,000 Total liabilities: #3,000 Capital = Total assets - Total liabilities Capital = #55,000 - #3,000 Capital = #52,000 Therefore, the capital is #52,000.