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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Question No 02 Chapter No 10
Opening Entry
2. Sunil purchased running business of Surinder on 20th October, 2017 for Rs 9,00,000 with the following assets and liabilities: stock Rs 3,50,000; Machinery Rs 2,50,000; Bank loan Rs 1,20,000; Creditors Rs 40,000; Debtors Rs 1,10,000; and Furniture Rs 60,000
In the Books of Sunil
| Date | Particulars |
L.F. | Debit | Credit | |
|---|---|---|---|---|---|
| 2019 | |||||
| Oct.20 | Stock A/c | Dr. | 3,50,000 | ||
| Machinery A/c | Dr. | 2,50,000 | |||
| Debtors A/c | Dr. | 1,10,000 | |||
| Furniture A/c | Dr. | 60,000 | |||
| Goodwill A/c | Dr. | 2,90,000 | |||
| To Bank Loan A/c | 1,20,000 | ||||
| To Creditors A/c | 40,000 | ||||
| To Capital A/c | 9,00,000 | ||||
| (Being opening entry made) | |||||
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Also, Check out the solved question of all Chapters: –
Chapter No. 2 - Theory Base of Accounting
Chapter No. 3 - Origin of Transactions
Chapter No. 4 - Vouchers and transactions
Chapter No. 6 - Accounting for Goods and Services Tax(GST)
Chapter No. 9 - Other Subsidiary Books
Chapter No. 10 - Journal Proper
Chapter No. 11 - Trial Balance
Chapter No. 12 - Bank Reconciliation Statement
Chapter No. 14 - Provisions and Reserves
Chapter No. 15 - Bills of Exchange
Chapter No. 16 - Rectification of Errors
Chapter No. 17 - Financial Statements - (Without Adjustments)
Chapter No. 18 - Financial Statements - (With Adjustments)
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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