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CBSE Class 11-commerce Answered

Following balances appeared in the balance sheet of M/s Anshul as on 31st March, 2016. Balance Sheet Liabilities Rs.  Assets Rs.  Capital 25,00,000 Land and Building 15,00,000 Creditors 10,00,000 Furniture 8,00,000 Bills Payable 5,00,000 Machinery 10,00,000     Debtors 2,00,000     Stock 5,00,000           40,00,000   40,00,000 Pass the necessary journal entries for opening the books for the year 2016-17.  
Asked by Topperlearning User | 12 Jul, 2016, 08:45: AM
answered-by-expert Expert Answer

Journal Proper

Date

Particulars

 

L.F.

Dr. (Rs.)

Cr. (Rs.)

2016

 

 

 

 

 

April 1

Land and Building A/c

Dr.

 

15,00,000

 

 

Furniture A/c

Dr.

 

8,00,000

 

 

Machinery A/c

Dr.

 

10,00,000

 

 

Debtors A/c

Dr.

 

2,00,000

 

 

Stock A/c

Dr.

 

5,00,000

 

 

 To Capital A/c

 

 

 

25,00,000

 

 To Creditors A/c

 

 

 

10,00,000

 

 To Bills Payable A/c

 

 

 

5,00,000

 

(Being the last year balances brought forward)

 

 

 

 

 

Notes:

Opening entry is not posted in the ledger accounts. These are opened in the new books of account as ‘To Balance b/d’ on the debit side for all asset accounts and ‘By Balance b/d’ on the credit side for all liabilities and capital accounts.

Answered by | 12 Jul, 2016, 10:45: AM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 11 Jul, 2016, 04:49: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
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