Question No 35 Chapter No 5 – USHA Publication 11 Class

Question No 35 Chapter No 5

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. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

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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