Question

Draft the opening entry and calculate capital:
Assets: Cash Rs 18,000, Bank Rs 30,500, Debtors Rs 25,000(A Rs 10,000, B Rs 8,000 and
C Rs 7,000), Stock Rs 24,500, Furniture Rs 12,000.
Liabilities: Creditors Rs 22,000 (X Rs 8,000, Y Rs 5,000 and Z Rs 9,000), Bank loan Rs
15,000.​

Answer 1

Answer:

Cash a/c. Dr. 18000

bank a/c. Dr. 30500

A. Dr. 10000

B. Dr. 8000

C. Dr. 7000

stock. a/c. Dr. 24500

furniture a/c Dr. 12000

To X. 8000

To Y. 5000

To Z. 9000

To bank loan a/c. 15000

To capital a/c. 73000