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Following balances existed in the books of M/s Anand stores as on 1st April, 2022:
Assets: Cash ₹ 60,000; Bank ₹ 40,000; Stock ₹ 1,50,000; Furniture ₹ 43,000; Debtors ₹ 1,45,000 (X ₹ 35,000; Y ₹ 50,000; Z ₹ 60,000).
Liabilities: Loan from Vikas ₹ 60,000; Creditors ₹ 52,500 (A ₹ 22,500; B ₹ 30,000).
Pass necessary Journal entry to record the above balances. [Capital – ₹ 3,25,500.]
Anurag Pathak Changed status to publish September 19, 2023
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