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Show workings to calculate the Capital at April

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Question - Peter Smart used to wash cars in the back yard of his home. He set up a car cleaning business and rented premises, hired 2 staff and moved personal equipment to his business premises where a small office was available. He kept very basic records and after 3 months provided you with the following balances at 1 April 2022:

Account balances at 1 April 2022 R

Bank balance 23 000

Equipment 41 000

Consumables on hand 5 200

Creditors 3 700

Capital ?

Show workings to calculate the Capital at 1 April 2022.

Reference no: EM133159303

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