Pass the Opening Entry from the following Balance Sheet as at 31st Mar

Pass the Opening Entry from the following Balance Sheet as at 31st March, 2018 of Vikas: Liabilities ₹ Assets ₹ Capital A/c: Land and Building 1,50,000 Opening Balance 5,05,115 Plant and Machinery 2,50,750 Add: Profit for the year 1,20,115 Chandra & Sons 71,270 6,25,230 Closing Stock 56,250 Less: Drawings 60,000 5,65,230 Cash in Hand 15,700 Salary Payable 15,000 Cash at Bank 75,250 Magic Trades 27,220 Babbar & Co. 11,770 6,19,220 6,19,220

Answer» Pass the Opening Entry from the following Balance Sheet as at 31st March, 2018 of Vikas:


Liabilities		₹	Assets	₹
Capital A/c:			Land and Building	1,50,000
Opening Balance	5,05,115		Plant and Machinery	2,50,750
Add: Profit for the year	1,20,115		Chandra & Sons	71,270
	6,25,230		Closing Stock	56,250
Less: Drawings	60,000	5,65,230	Cash in Hand	15,700
Salary Payable		15,000	Cash at Bank	75,250
Magic Trades		27,220
Babbar & Co.		11,770


		6,19,220		6,19,220

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