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