Question

From the following particulars, find out Capital Fund of Jyoti Club as on 1.4.2018 :
Assets as on 1.4.2018
Cash at Bank
30,000
Furniture
25,000
Subscription due
10,000
Stock of Balls and Bats
5,000
Liabilities as on 1.4.2018
Subscriptions Received in Advance
4,000
Outstanding Salary
6,000
Cash at Bank on 31.3.2019
25000​

Answer 1

Here is ur Answer ⤵️

All the branches send cash at regular interval to head office. But, at the end of accounting period, some cash sent by the branch are still in transit. Therefore, to record such transit is cash in the books of head office, the entry will be: Cash in transit A/C..

Hope it helps you ✔