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The following balances appeared in the books of Kumaran on April 1, 2017.

Assets: Cash Rs. 1,00,000; Stock Rs. 40,000; Amount due from Rohit Rs. 10,000, 

Furniture Rs. 10,000; Liabilities: Amount due to Anush Rs. 40,000; 

Kumaran’s capital Rs. 1,20,000 

Find the capital and show the ledger posting for the above opening balances.

1 Answer

+2 votes
by (48.1k points)
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Best answer

Opening Entry

Cash Account

Stock Account

Rohit (Debtors) Account

Furniture Account

Creditors Account

Kumaran’s Capital Account

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