What is Opening Entry?
Download our app for free and get started
Opening entry is a compound entry which carries forward all the balances of assets and liabilities of previous year to the current year.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionWhat is Narration?
- 2View SolutionBriefly explain the Accounting Equation.
- 3View SolutionGive two examples of Representative Personal Accounts.
- 4View SolutionWhat entry is passed when cheques received from the customers are not sent to bank on the same day.
- 5View SolutionWhat is Intangible Real Account? Give two examples of such type of accounts.
- 6View SolutionIf the capital of a business is ₹ 3,00,000 and liabilities are ₹ 50,000, loss ₹ 70,000, calculate the total assets of the business.
- 7View SolutionEnumerate four advantages of Ledger.
- 8View SolutionWhat are Artificial Personal Accounts? Give one example.
- 9View SolutionWhat are Real Accounts?
- 10View SolutionName the side on which increase in capital is recorded.