Question No 35 Chapter No 5
Opening Stock
35. On 1st April, 2018 the financial position of Apex Traders was as follows:
| Rs | |
| Capital | 70,000 |
| Bank overdraft | 7,500 |
| Machinery | 45,000 |
| Goodwill | 5,000 |
| Bills payable | 2,500 |
| Cash | 1,000 |
| Furniture | 5,000 |
| Building | 400,000 |
| Loan from a supplier | 20,000 |
| Bills receivable | 4,000 |
The solution of Question No 35 Chapter No 5: –
| In the Books of Apex Traders | |||||
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| Machinery A/c | Dr. | 45,000 | |||
| Goodwill A/c | Dr. | 5,000 | |||
| Cash A/c | Dr. | 1,000 | |||
| Furniture A/c | Dr. | 5,000 | |||
| Building A/c | Dr. | 40,000 | |||
| Bill receivable A/c | Dr. | 4,000 | |||
| To Capital A/c | 70,000 | ||||
| To Bank Overdraft A/c | 7,500 | ||||
| To Bill Payable A/c | 2,500 | ||||
| To Loan from supplier A/c | 20,000 | ||||
| (Being opening entry ) | |||||
How to make Journal Entries in Accounting – Explanation
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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
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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)
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