Stokes sets up a new business. Before he actually sells

| June 14, 2018

L Stokes sets up a new business. Before he actually sells anything he has bought motor vehicles of ?3,000, premises of ?7,000, stock of goods ?2,000. He still owes ?800 in respect of them. He had borrowed ?4,000 from D Evans. After the events just described and before trading starts, he had ?300 cash in hand and ?600 cash at bank.You are required to calculate the amount of his capital.

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