On 1st April, 2018, the position of Tendulkar was as follows: Stock-in-Hand ₹ 2,88,000; Bills Payable ₹ 48,000; Cash at Bank ₹ 2,16,000; Plant and Machinery ₹ 1,20,000; Owing by debtors ₹ 60,000; Owing to creditors ₹ 96,000; Investment ₹ 2,40,000, Loan from S.K. Garg ₹ 1,80,000. What was the amount of Tendulkar's capital on the date? Show an opening Journal entry.

On 1st April, 2018, the position of Tendulkar was as follows: Stock-in

1.	On 1st April, 2018, the position of Tendulkar was as follows: Stock-in-Hand ₹ 2,88,000; Bills Payable ₹ 48,000; Cash at Bank ₹ 2,16,000; Plant and Machinery ₹ 1,20,000; Owing by debtors ₹ 60,000; Owing to creditors ₹ 96,000; Investment ₹ 2,40,000, Loan from S.K. Garg ₹ 1,80,000. What was the amount of Tendulkar's capital on the date? Show an opening Journal entry.
Answer» On 1st April, 2018, the position of Tendulkar was as follows: Stock-in-Hand ₹ 2,88,000; Bills Payable ₹ 48,000; Cash at Bank ₹ 2,16,000; Plant and Machinery ₹ 1,20,000; Owing by debtors ₹ 60,000; Owing to creditors ₹ 96,000; Investment ₹ 2,40,000, Loan from S.K. Garg ₹ 1,80,000. What was the amount of Tendulkar's capital on the date? Show an opening Journal entry.