Bert does not keep complete records. He can, however, provide the balances of his assets and liabilities at 1 April 2015.

Calculate the capital at 1 April 2015 by producing a statement of affairs.

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$ Premises - cost 300 000 Machinery - cost 46 200 Vehicles - cost 16 600 Trade payables 62 400 Trade receivables 19 000 Bank 6 500 Other receivables 12 800 Other payables 11 200 Loan 60 000 Inventory 66 000 Premises - provision for depreciation 42 000 Machinery- provision for depreciation 19 400 Vehicles - provision for depreciation 2 000