On 1st April, 2018, the position of Rahman was as follows: Cash-in-Hand ₹ 11,200; Cash at Bank ₹ 2,57,600; Bills Receivable ₹ 68,000; Jai Ram (Dr.) ₹ 16,000; Ram Kumar (Dr.) ₹ 48,080; Office Furniture ₹ 52,800; Stock-in-Trade ₹ 4,16,000; Doulat Ram (Cr.) ₹ 1,74,720, Hari Ram (Cr.) ₹ 2,16,960; Bills Payable ₹ 80,000. What was the amount of capital of Rahman on that date? Show the Journal entry to Open his books.

On 1st April, 2018, the position of Rahman was as follows: Cash-in-Han

1.	On 1st April, 2018, the position of Rahman was as follows: Cash-in-Hand ₹ 11,200; Cash at Bank ₹ 2,57,600; Bills Receivable ₹ 68,000; Jai Ram (Dr.) ₹ 16,000; Ram Kumar (Dr.) ₹ 48,080; Office Furniture ₹ 52,800; Stock-in-Trade ₹ 4,16,000; Doulat Ram (Cr.) ₹ 1,74,720, Hari Ram (Cr.) ₹ 2,16,960; Bills Payable ₹ 80,000. What was the amount of capital of Rahman on that date? Show the Journal entry to Open his books.
Answer» On 1st April, 2018, the position of Rahman was as follows: Cash-in-Hand ₹ 11,200; Cash at Bank ₹ 2,57,600; Bills Receivable ₹ 68,000; Jai Ram (Dr.) ₹ 16,000; Ram Kumar (Dr.) ₹ 48,080; Office Furniture ₹ 52,800; Stock-in-Trade ₹ 4,16,000; Doulat Ram (Cr.) ₹ 1,74,720, Hari Ram (Cr.) ₹ 2,16,960; Bills Payable ₹ 80,000. What was the amount of capital of Rahman on that date? Show the Journal entry to Open his books.