on 1st April 2015 the financial position of Apex traders was as follows
capital 70000
bank overdraft 7,500
machinery 45000
Goodwill 5000
bills payable 2500
cash 1000
building 40000
loan from a supplier 20000
bills receivable 40000
give the opening journal entry pls give answer with amount
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Answer:
machinery. dr. 45000
goodwill. dt. 5000
cash. dr. 1000
building. dr. 40000
bills receivable dr. 40000
To loan. 20000
To bills payable. 2500
To bank overdraft 7500
To capital. 70000
To capital reserve 31000
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