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Question 5 Chapter 6 – Unimax
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5. On 1st July, 2019 Puneet’s assets and liabilities stood as follows :
| Assets : | Rs. | |
| Land and Building | 40,000 | |
| Investments | 24,000 | |
| Bills Receivables | 5,000 | |
| Debtors | 10,000 | |
| Plant and Machinery | 6,000 | |
| Stock | 7,000 | |
| Bank | 12,000 | |
| Cash | 1,000 | |
| Liabilities : | ||
| Bills Payable | 2,000 | |
| X’s loan | 15,000 | |
| Creditors | 24,000 |
Make an opening journal entry and post them into Ledger.
The solution of Question 5 Chapter 6 – Unimax:
SHAM LAL’S JOURNAL
| Date | Particulars | L.F. | Debit | Credit | |
| 2019 | |||||
| July 1 | Land & Building A/c | Dr. | 40,000 | ||
| Investment A/c | Dr. | 24,000 | |||
| Bills Receivable A/c | Dr. | 5,000 | |||
| Debtors A/c | Dr. | 10,000 | |||
| Plant & Machinery A/c | Dr. | 6,000 | |||
| Stock A/c | Dr. | 7,000 | |||
| Bank A/c | Dr. | 12,000 | |||
| Cash A/c | Dr. | 1,000 | |||
| To Bills Payable A/c | 2,000 | ||||
| To X’s Loan A/c | 15,000 | ||||
| To Creditors A/c | 24,000 | ||||
| To Capital A/c | 64,000 | ||||
| (Being opening entry passed) | |||||
LEDGER :
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LAND& BUILDING A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 40,000 | |||
| 40,000 |
INVESTMENT ACCOUNT
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 24,000 | |||
| 24,000 |
BILLS RECEIVABLE A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 5,000 | |||
| 5,000 |
DEBTORS A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 10,000 |
PLANT& MACHINERY A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 6,000 | |||
| 6,000 |
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STOCK A/C
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| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 7,000 | |||
| 7,000 |
BANK A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 12,000 | |||
| 12,000 |
CASH A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | To balance b/d | 1,000 | |||
| 1,000 |
BILLS PAYABLE A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | By balance b/d | 2,000 | |||
| 2,000 |
X’S LOAN A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | By balance b/d | 15,000 | |||
| 15,000 |
CREDITORS A/C
| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | By balance b/d | 24,000 | |||
| 24,000 |
CAPITAL A/C
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| Date | Particulars | Amount | Date | Particulars | Amount |
| 2019 | |||||
| July 1 | By balance b/d | 64,000 | |||
| 64,000 |
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This is all about question 5 Chapter 6 – Unimax. You can check out the following article to better understand:
Ledger balancing or Closing of ledger account | Ledger
You Can also read all above articles in Hindi on our Hindi Website
Ledger balancing or Closing of ledger account | Ledger – 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
You can also Check out the other Books’ Solution: –
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- 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