Question 28 Chapter 4 - Unimax Publications of Class 11

Question 28 Chapter 4 - Unimax

28. On 1 August, 2021 Taran’s assets and liabilities stood as follows:
Assets: Cash at Bank Rs. 24,000; Cash in hand Rs. 11,000; Stock Rs. 7,000; Bills receivable Rs. 6,000 Building Rs. 25,000; Furniture Rs. 4,000; Amount due from Varun Rs. 2,500.
Liabilities: Bills payable Rs. 2,500; Creditors Rs. 8,000; Munish’s Loan Rs. 17,000.
Pass on opening journal entry.

The solution of Question 28 Chapter 4 - Unimax:

BOOKS OF TARAN (JOURNAL)

Date	Particulars		L.F.	Debit	Credit
2021
Aug. 1	Bank A/c	Dr.		24,000
	Cash A/c	Dr.		11,000
	Stock A/c	Dr.		7,000
	Bills receivable A/c	Dr.		6,000
	Building A/c	Dr.		25,000
	Furniture A/c	Dr.		4,000
	Varun’s A/c	Dr.		2,500
	To Bills Payable A/c				2,500
	To Creditors A/c				8,000
	To Loan A/c				17,000
	To Capital A/c				52,000
	(Being opening balances brought forward)
	Grand Total			79,500	79,500

This is all about the Question 28 Chapter 4 - Unimax. You can check out the following article to better understand:

Opening Journal Entry – its Rules and Examples 

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Opening Journal Entry – its Rules and Examples - In Hindi

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You can also Check out the solved question of other Chapters: -

Advanced Accountancy – Unimax Class 11 – 2021 – Solution.

Part-I

• Chapter No. 1 – Introduction of Accounting
• Chapter No. 2 – Theory Base of Accounting
• Chapter No. 3 – Vouchers and Transactions
• Chapter No. 4 – Journal
• Chapter No. 5 – Goods and Services Tax (GST) : An Introduction
• Chapter No. 6 – Ledger
• Chapter No. 7 – Special Purpose Book – Cash Book
• Chapter No. 8 – Other Subsidiary Books
• Chapter No. 9 – Trial Balance
• Chapter No. 10 – Rectification of Errors
• Chapter No. 11 – Depreciation
• Chapter No. 12 – Provision and Reserves
• Chapter No. 13 – Bank Reconciliation Statement
• Chapter No. 14 – Bills of Exchange

Students may Choose only one part from the Part II and Part III

Part-II

• Chapter No. 15 – Financial Statements (Without Adjustments)
• Chapter No. 16 – Financial Statements (With Adjustments)
• Chapter No. 17 – Accounts from Incomplete Records – Single Entry System

Part-III

• Chapter No. 18 – Introduction to Computers and Accounting information System
• Chapter No. 19 – Computerised Accounting
• Chapter No. 20 – Accounting Software : Tally
• Chapter No. 21 – Data Base System
• Chapter No. 22 – Concept of Entity and Relationship

You can also Check out the other Books' Solution: -

• Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
• T.S. Grewal’s Double Entry Book Keeping (Class +1) – Solution
• D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution