Question 28 Chapter 4 – Unimax Publications of Class 11

Q28 - CH-4 Solution

Question 28 Chapter 4 – Unimax

Free Accounting book Solution - Class 11 and Class 12

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 Reconlciliation 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 Compurters 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

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