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Question 5 Chapter 5 – Unimax Publications of Class 11
5. Pass Opening Journal entry:
BALANCE SHEET AS AT 31ST MARCH, 2020
| Liabilities | Rs. | Assets | Rs. |
| Sundry Creditors | 56,000 | Cash in Hand | 4,300 |
| Capital | 2,14,000 | Cash at Bank | 26,750 |
| Sundry Debtors | 74,950 | ||
| Closing Stock | 90,000 | ||
| Input CGST | 5,000 | ||
| Input SGST | 5,000 | ||
| Input IGST | 4,000 | ||
| Machinery and Equipment | 60,000 | ||
| 2,70,000 | 2,70,000 |
The solution of Question 5 Chapter 5 – Unimax Publications of Class 11:
Based on the above Balance Sheet, the Opening Entry will be:
| Date | Particulars | L.F. | Debit | Credit | |
| 2020 | |||||
| April 1 | Cash A/c | Dr. | 4,300 | ||
| Bank A/c | Dr. | 26,750 | |||
| Sundry Debtors A/c | Dr. | 74,950 | |||
| Stock A/c | Dr. | 90,000 | |||
| Input CGST A/c | Dr. | 5,000 | |||
| Input SGST A/c | Dr. | 5,000 | |||
| Input IGST A/c | Dr. | 4,000 | |||
| Machinery and Equipment | Dr. | 60,000 | |||
| To Sundry Creditors A/c | 56,000 | ||||
| To Capital A/c | 2,14,000 | ||||
| (Being the balances of assets, liabilities and capital brought Forward) | |||||
| 2,70,000 | 2,70,000 | ||||
End of Solution
Check Out the Solution of all questions for this chapter:
The solutions to all questions of Chapter No. 5 – Goods and Services Tax (GST) : An Introduction Unimax – Class 11 are shown as follows, click on the image of the question to get the solution.
Question 5 Chapter 5 – Unimax Publications of Class 11
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1. Comprehensive Solutions for All Chapters of Advanced Accountancy I Class 11 by Unimax
UnimaxSolutions.in offers a comprehensive solution for students studying Advanced Accountancy I Part 1 in Class 11. With their meticulously curated study material, students can access comprehensive solutions to all the questions included within each chapter. By selecting the chapter name from the study material, students can easily navigate through the topics and find detailed explanations and step-by-step solutions to the problems presented in that section. Whether it’s understanding complex accounting concepts, mastering calculation techniques, or analyzing financial statements, Unimax provides a valuable resource to aid students in their learning journey. With these comprehensive solutions at their disposal, students can enhance their understanding, clarify doubts, and improve their problem-solving skills in Advanced Accountancy, ensuring they are well-prepared for their Class 11 examinations.
- Chapter No. 1 – Introduction of Accounting
- Chapter No. 2 – Theory Base of Accounting
- Chapter No. 3 – Vouchers and Transactions
- Chapter No. 4 – Journal
- Chapter No. 5 – Goods and Services Tax (GST): An Introduction
- Chapter No. 6 – Ledger
- Chapter No. 7 – Special Purpose Book – Cash Book
- Chapter No. 8 – Other Subsidiary Books
- Chapter No. 9 – Trial Balance
- Chapter No. 10 – Rectification of Errors
- Chapter No. 11 – Depreciation
- Chapter No. 12 – Provision and Reserves
- Chapter No. 13 – Bank Reconciliation Statement
- Chapter No. 14 – Bills of Exchange
- Chapter No. 15 – Financial Statements (Without Adjustments)
- Chapter No. 16 – Financial Statements (With Adjustments)
- Chapter No. 17 – Accounts from Incomplete Records – Single Entry System
2. Punjab School Education Board (PSEB) Solutions of Usha Publication.
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