On 1st April, 2019 , the position of Rahman was as follows: Cash-in-Hand Rs. 11,200, Cash at Bank Rs. 2,57,600, Bills Receivable Rs. 68,800, Jai Ram (Dr.) Rs. 16,000, Ram Kumar (Dr.) Rs. 48,080, Office Furniture Rs. 52,800, Stook-in-Trade Rs. 4,16,000, Doulat Ram (Cr.) Rs. 1,74,720,Hari Ram (Cr.) Rs. 2,16,960, Bills Payable Rs. 80,000. What was the amount of capital of Rahman on that date? Pass the Journal entry to Open his books.

Answer

Capital - Rs. 3,98,800.