The following is the balance sheet of a firm as at 31st March, 2023 Capitals Accounts A ₹ 4,00,000 B ₹ 4,00,000 C ₹ 3,00,000 D ₹ 3,00,000.
The following is the balance sheet of a firm as at 31st March, 2023: Capitals Accounts A ₹ 4,00,000 B ₹ 4,00,000 C ₹ 3,00,000 D ₹ 3,00,000.
| Liabilities | ₹ | Assets | ₹ |
|
Capital Accounts A B C D |
4,00,000 4,00,000 3,00,000 3,00,000 |
Building | 6,50,000 |
| Reserves | 1,50,000 | Plant & Machinery | 5,00,000 |
| Profit & Loss (Profits) | 90,000 | Stock | 3,00,000 |
| Creditors | 80,000 | Debtors | 2,40,000 |
| 17,20,000 | Bills Receivable | 10,000 | |
| Cash at Bank | 20,000 | ||
| Total | 17,20,000 | Total | 17,20,000 |
Pass a single Journal entry to give effect to the above [Ans. Loss on Revaluation ₹ 86,000, Debit C by ₹ 10,800 and D by ₹ 5,400; Credit A by ₹ 5,400 and B by ₹ 10,800.]
Anurag Pathak Answered question August 7, 2024
