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