ILLUSTRATION 5. (Opening Entry-Calculation of Goodwill) The following balances appeared in the books of Anil on 1-4-2013: Assets: Cash 30,000; Bank 45,000; Stock 65,900; Debtors 50,900 (Jagmohan *4,900, Jagan 46,000); Computers 45,000; Fax Machine 22,000; Liabilities: Creditors 34,000 (Gauri Shanker 13,000, Chander 21,000); Bank Loan 34,000; Bills Payable 24,000; Capital 2,00,000. Journalise.
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