Question No 35 Chapter No 8
Pass the Opening Entry from the following Balance sheet as at 31st March 2018 of Vikas:
| Liabilities | Rs | Assets | Rs | |
| Capital A/c | Land and Building | 1,50,000 | ||
| Opening Balance | 5,05,115 | Plant and Machinery | 2,50,750 | |
| Add: Profit for the year | 1,20,115 | Chandra & Sons | 71,270 | |
| 6,25,230 | Closing Stock | 56,250 | ||
| Less: Drawing | 60,000 | 5,65,230 | Cash in Hand | 15,700 |
| Salary Payable | 15,000 | Cash at Bank | 75,250 | |
| Magic Traders | 27,220 | |||
| Babbar & Co. | 11,770 | |||
| 6,19,220 | 6,19,220 | |||
The solution of Question No 35 Chapter No 8: –
In the Books of Manoj Store:
| Date | Particulars |
L.F. | Debit | Credit | |
| 2018 | |||||
| 1st April | Land and Building A/c | Dr. | 1,50,000 | ||
| Plant and Machinery A/c | Dr. | 2,50,750 | |||
| Chandra & Sons. A/c | Dr. | 71,270 | |||
| Stock in Trade A/c | Dr. | 56,250 | |||
| Cash in Hand A/c | Dr. | 15,700 | |||
| Cash at Bank A/c | Dr. | 75,250 | |||
| To Ramesh’s A/c | 5,65,230 | ||||
| To Salary Payable A/c | 15,000 | ||||
| To Magic Trades A/c | 27,220 | ||||
| To Babbar & Co.A/c | 11,770 | ||||
| (Being balances of assets and liabilities and capital brought forward.) | |||||
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Check out previous questions: –
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