Question

Pass the opening entries an on 1st April , 2019 (3)

1

st April 2019 Amount (Rs)

Cash in hand 36,000

Cash at bank 51,200

Stock of goods 1,00,000

Furniture 20,000

Building 9,02,800

Sundry debtors 26,000

Sundry creditors 4, 68,800​

Answer 1

Answer:

Assets are debited and the liabilities are credited.

The opening entry will be-

Cash in hand a/c     Dr.  36000

Cash at bank A/c     Dr.  51200

Stock A/c                  Dr. 100000

Furniture A/c            Dr. 20000

Building A/c              Dr. 902800

Debtors A/c              Dr. 26000

                   To Creditors A/c      468800

                   To capital A/c (b.f)   667200