Question

! Opening Journal Entry
13. From the following balances of M/s Ajay & Co. pass opening journal entry on April 1, 2016 :
Debit balances : Cash in hand $2,000, Cash at Bank 7 4,000, Stock * 10,000, Investment 2,000, Debtors
10,000, Furniture 20,000, Machinery 20,000, Plant 10,000.
Credit balances : Creditors 20,000, Bills Payable* 10,000, Loan from Bank 8,000, Capital 40,000.
(Ans. Grand Total 78,000]
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Answer 1

Answer:

cash a/c dr 2000

bank a/c dr

stock a/c dr

investment a/c dr

debtors a/c dr

furniture a/c dr

machinery a/c dr

plant a/c dr

to creditor's a/c

to bills payable a/c

to loan a/c

to capital a/c