Opening Journal Entry Examples Journal - Explained with Animated Examples скачать в хорошем качестве

Opening Journal Entry Examples Journal - Explained with Animated Examples

Example No. 1: When Both sides total is equal to each other Balance sheet year ending 31/03/2020 shown the following balances post it to next financial year: Closing Balances of Assets are: Furniture & Fixture = 50,000/- Plant & machine = 2,50,000/- Land & Building = 25,00,000/- Vehicle = 3,30,000/- Copyright = 50,000 Debtors = 80,000/- Cash = 35,000/- Bank = 2,75,000/- Closing Balances of Capital and liabilities are Capital = 9,90,000/- Bank loan A/c = 15,00,000/- Mortgage Loan = 10,00,000/- Creditors = 80,000/- Example No. 2: When the credit side is short and the balance of the capital account is missing: Balance sheet year ending 31/03/2020 shown the following balances post it to next financial year: Closing Balances of Assets are Plant & machine = 30,00,000/- Land & Building = 50,00,000/- Cash = 35,000/- Bank = 5,15,000/- Closing Balances of liabilities are Bank loan A/c = 50,00,000/- Mortgage Loan = 30,00,000/- Example No. 3: When the credit side is short but the balance of the capital account is also given Balance sheet year ending 31/03/2020 shown the following balances post it to next financial year: Closing Balances of Assets are Plant & machine = 30,00,000/- Land & Building = 50,00,000/- Cash = 35,000/- Bank = 5,15,000/- Closing Balances of liabilities and Capital are: Bank loan A/c = 50,00,000/- Mortgage Loan = 30,00,000/- Capital= 40,00,000/- Example No. 4: When the Debit side is short Balance sheet year ending 31/03/2020 shown the following balances post it to next financial year: Closing Balances of Assets are Plant & machine = 30,00,000/- Land & Building = 50,00,000/- Cash = 35,000/- Bank = 5,15,000/- Closing Balances of liabilities and Capital are: Bank loan A/c = 50,00,000/- Mortgage Loan = 30,00,000/- Capital= 50,00,000/- Question for Practice: Following is the question for your practice. So please solve it by your own if you have face any difficulty then you can ask me by commenting us in the comment box. Question No. 1: The opening Debit balance is shown as under: Furniture Rs 60,000/-, Building Rs 10,00,000/-, Mr Rajan Rs 15,000/-, Miss Renuka Rs 25,000/- Plant and Machine Rs. 1,50,000/- The opening credit balance is shown as under: Capital Rs. 10,00,000/-, Bank loan Rs. 2,00,000, due to Mr Kartik Rs 50,000/-, Question No. 2: Assets side of the balance sheet shows the following balances: Land And building Rs 15,00,000/-, Furniture Rs 2,50,000/-, Vehicle Rs 3,50,000/- Goodwill Rs 1,00,000/-, Debtors Rs 3,00,000/- Liabilities side of the balance sheet shows the following balances: Capital Rs 18,00,000/-, Mr Ram’s Loan A/c 5,00,000/- and creditors Rs 2,00,000/- Question No. 3: Assets side of the balance sheet shows the following balances: Land And building Rs 15,00,000/-, Furniture Rs 2,50,000/-, Vehicle Rs 3,50,000/- Goodwill Rs 1,00,000/-, Debtors Rs 3,00,000/- Liabilities side of the balance sheet shows the following balances: Capital Rs 18,00,000/-, Mr Ram’s Loan A/c 5,00,000/- and creditors Rs 1,00,000/- Please check out our full article: - https://tutorstips.com/opening-journa... !--------Our Website link---------! https://tutorstips.com/ https://tutorstips.in/ !--------Check Business Studies Playlist--------!    • Business Studies Class 11 CBSE PSEB ISC   !--------Check Economics Playlist--------!    • Economics Class 11 CBSE PSEB ISC   !--------Check Financial Accounting Playlist--------!    • Financial Accounting Class 11 CBSE PSEB ISC   !--------Like our Fb page---------!   / tutorstips   !--------Follow us on Instagram-------!   / tutorstips   !--------Follow us on Twitter--------!   / tutors_tips   Thanks for all your love n support. For any other details email - tutorstips17@gmail.com Our partner https://www.freepik.com/ https://www.flaticon.com/ #FreeOnlineTuition #Class11 #financialaccounting