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Page No 13.22:

Question 1:

Prepare a Trial Balance with the following information:

Sr. No Name of Account Balance
(₹)
Sr. No Name of Account Balance
(₹)
(i)
(iii)
(v)
(vii)
Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
​(iv)
(vi)
(viii)
Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000

Answer:

Trial Balance

S. No.

Account Title

Debit

Balance

(Rs)

Credit

Balance

(Rs)

(i)

Capital

 

2,00,000

(ii)

Stock

70,000

 

(iii)

Cash

1,80,000

 

(iv)

Debtors

3,00,000

 

(v)

Creditors

 

1,00,000

(vi)

Bank Loan

 

1,50,000

(vii)

Sales

 

3,00,000

(viii)

Purchases

2,00,000

 

 

 

7,50,000

7,50,000

 

 

 

 



Page No 13.23:

Question 2:

Journalise the following transactions , post them into Ledger and prepare a Trial Balance :  

 

 

       
    (₹)     (₹)
2018
 
  2018    
Apr. 1
Mohan commenced business with cash
1,00,000 Apr. 20 Received cash from Gopal 3,950
Apr. 3 Bought goods 5,000   Discount Allowed 50
Apr. 4 Sold goods to Gopal 4,000 Apr. 25 Paid Wages 700
Apr. 10 Bought goods from Ram 8,000 Apr. 27 Paid to Ram in full settlement 7,700
Apr. 15
Paid trade expenses
2,000 Apr. 30 Paid rent 1,500

Answer:

Books of Mohan

Journal

Date

Particular

L.F.

Debit

Amount

(Rs)

Credit

Amount

(Rs)

2018

 

 

 

 

April 01

Cash A/c

Dr.

 

1,00,000

 

 

To Capital A/c

 

 

1,00,000

 

(Commenced business with Cash)

 

 

 

 

 

 

 

 

April 03

Purchases A/c

Dr.

 

5,000

 

 

To Cash A/c

 

 

5,000

 

(Bought goods)

 

 

 

 

 

 

 

 

April 04

Gopal

Dr.

 

4,000

 

 

To Sales A/c

 

 

4,000

 

(Goods Sold to Gopal)

 

 

 

 

 

 

 

 

April 10

Purchases A/c

Dr.

 

 8,000

 

 

To Ram

 

 

8,000

 

(Bought goods from Ram)

 

 

 

 

 

 

 

 

April 15

Trade Expenses A/c

Dr.

 

2,000

 

 

To Cash A/c

 

 

2,000

 

(Paid trade expenses)

 

 

 

 

 

 

 

 

April 20

Cash A/c

Dr.

 

3,950

 

 

Discount Allowed A/c

Dr.

 

 50

 

 

To Gopal

 

 

4,000

 

(Cash received from Gopal and discount allowed)

 

 

 

 

 

 

 

 

April 25

Wages A/c

Dr.

 

700

 

 

To Cash

 

 

700

 

(Paid Wages)

 

 

 

 

 

 

 

 

April 27

Ram

Dr.

 

8,000

 

 

To Cash A/c

 

 

7,700

 

To Discount Received A/c

 

 

300

 

(Paid to Ram and discount received from him)

 

 

 

 

 

 

 

 

April 30

Rent A/c

Dr.

 

1,500

 

 

To Cash A/c

 

 

1,500

 

(Paid Rent)

 

 

 

 

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 01

Capital

 

1,00,000

April 03

Purchases

 

5,000

April 20

Gopal

 

3,950

April 15

Trade Expenses

 

2,000

 

 

 

 

April 25

Wages

 

700

 

 

 

 

April 27

Ram

 

7,700

 

 

 

 

April 30

Rent

 

1,500

 

 

 

 

 

Balance c/d

 

87,050

 

 

 

1,03,950

 

 

 

1,03,950

 

 

 

 

 

 

 

 

                 

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

Balance c/d

 

1,00,000

April 01

Cash

 

1,00,000

 

 

 

 1,00,000

 

 

 

 1,00,000

 

 

 

 

 

 

 

 

                 

 

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 03

Cash

 

5,000

April 30

Balance c/d

 

13,000

April 10

Ram

 

8,000

 

 

 

 

 

 

 

13,000

 

 

 

13,000

 

 

 

 

 

 

 

 

                 

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

Balance c/d

 

4,000

April 04

Gopal

 

4,000

 

 

 

4,000

 

 

 

4,000

 

 

 

 

 

 

 

 

                 

 

Gopals’ Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 04

Sales

 

4,000

April 20

Cash

 

3,950

 

 

 

  

April 20

 Discount Allowed

 

50

 

 

 

4,000

 

 

 

4,000

 

 

 

 

 

 

 

 

                 

 

Ram’s Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 27

Cash

 

7,700

April 10

Purchases

 

8,000

 

Discount Received

 

300

 

 

 

 

 

 

 

8,000

 

 

 

8,000

 

 

 

 

 

 

 

 

                 

 

Trade Expenses Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 15

Cash

 

2,000

April 30

Balance c/d

 

2,000

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

                 

 

Discount Received Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F

Amount (Rs)

2018

 

 

 

2018

 

 

 

April  20

Balance c/d

 

300

April 20

Ram

 

300

 

 

 

300

 

 

 

300

 

 

 

 

 

 

 

 

                 

 

Wages Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 25

Cash

 

700

April 30

Balance c/d

 

700

 

 

 

700

 

 

 

700

 

 

 

 

 

 

 

 

                 

 

Discount Allowed Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 27

Gopal

 

50

April 01

Balance c/d

 

50

 

 

 

50

 

 

 

50

 

 

 

 

 

 

 

 

                 

 

Rent Account

Dr.

 

Cr.

Date

Particulars

J.F

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

Cash

 

1,500

April 30

Balance c/d

 

1,500

 

 

 

1,500

 

 

 

1,500

 

 

 

 

 

 

 

 

                 

 

 

Trial Balance

S. No.

Account Title

L.F.

Debit

Balance

(Rs)

Credit

Balance

(Rs)

(i)

Cash

 

87,050

 

(ii)

Capital

 

 

1,00,000

(iii)

Sales

 

 

4,000

(iv)

Trade Expenses

 

2,000

 

(v)

Discount Received

 

 

300

(vi)

Wages

 

700

 

(vii)

Discount Allowed

 

 50

 

(viii)

Rent

 

 1,500

 

(ix)

Purchases

 

13,000

 

 

 

 

 1,04,300

1,04,300

 

 

 

 

 

Page No 13.23:

Question 3:

​Prepare the Trial Balance of Ankit as on 31st March, 2018. He has omitted to open a Capital Account:       

   

 

 

 

   
Bank Overdraft 85,000 Purchases 4,45,000
Sales 8,10,000 Cash in Hand 8,500
Purchases Return 22,500 Creditors 2,15,000
Debtors 4,00,500 Sales Return 15,750
Wages 96,000 Equipment 25,000
Capital ?

Opening Stock

3,00,500

           

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Bank Overdraft
 
85,000
2
Sales
 
8,10,000
3
Purchases Return
 
22,500
4
Debtors
4,00,500
 
5
Wages
96,000
 
6
Capital
 
1,58,750
7
Purchases
4,45,000
 
8
Cash in hand
8,500
 
9
Creditors
 
2,15,000
10
Sales Return
15,750
 
11
Equipment
25,000
 
12
Opening Stock
3,00,500
 
 
Total
12,91,250
12,91,250

Page No 13.23:

Question 4:

Prepare a Trial Balance from the following items:

         
      ₹
Capital 24,000 Building 12,000
Opening Stock 8,500 Returns Inward 1,900
Furniture 2,600 Returns Outward 350
Purchases 8,950 Trade Expenses 1,000
Cash 7,300 Discount Received 970
Carriage 300 Salary 3,000
Sales 22,500 Office Rent 2,270

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Capital
 
24,000
2
Opening Stock
8,500
 
3
Furniture
2,600
 
4
Purchases
8,950
 
5
Cash
7,300
 
6
Carriage
300
 
7
Sales
 
22,500
8
Building
12,000
 
9
Returns Inward
1,900
 
10
Returns Outwards
 
350
11
Trade Expenses
1,000
 
12
Discount Received
 
970
13
Salary
3,000
 
14
Office Rent
2,270
 
 
Total
47,820
47,820

Page No 13.23:

Question 5:

The following are the balances extracted from the books of Mr. A. Mukhopadhyay. Prepare a Trial Balance as on 31st March, 2018:

   

 

 

 

   
Cash 2,000 Sundry Creditors 40,000
Capital 80,000 Investment 8,000
Purchases 85,000 Plant and Machinery 15,000
Sales 1,08,400 Building 20,000
Purchases Return 6,000 Furniture 6,000
Sales Return 4,000 Electricity 700
Transportation 1,800 Postage 400
Discount Allowed 500 Drawings 8,000
Printing 5,000 Salaries 6,000
Sundry Debtors 70,000 Travelling Expenses 2,000
Input CGST A/c 2,500 Output CGST A/c 1,500
Input SGST A/c 2,500 Output SGST A/c 1,500
Input IGST A/c 4,000

Output IGST A/c

6,000

           

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Cash
2,000
 
2
Capital
 
80,000
3
Purchases
85,000
 
4
Sales
 
1,08,400
5
Purchases Return
 
6,000
6
Sales Return
4,000
 
7
Transportation
1,800
 
8
Discount Allowed
500
 
9
Printing
5,000
 
10
Sundry Debtors
70,000
 
11
Input CGST A/c
2,500
 
12
Input SGST A/c
2,500
 
13
Input IGST A/c
4,000
 
14
Sundry Creditors
 
40,000
15
Investments
8,000
 
16
Plant & Machinery
15,000
 
17
Building
20,000
 
18
Furniture
6,000
 
19
Electricity
700
 
20
Postage
400
 
21
Drawings
8,000
 
22
Salaries
6,000
 
23
Travelling Expenses
2,000
 
24
Output CGST A/c
 
1,500
25
Output SGST A/c
 
1,500
26
Output IGST A/c
 
6,000
 
Total
2,43,400
2,43,400



Page No 13.24:

Question 6:

From the following information, prepare a Trial Balance of M/s. Prayag for the year ended 31st March,2018:      

   

 

 

 

   
Capital Accounts 1,25,000 Sales 1,54,500
Furniture and Fittings 6,400 Bank (Cr. Balance) 28,500
Motor Car 62.500 Purchase Returns 1,250
Buildings 75,000 Commission (Cr.) 3,750
Total Debtors 38,000 Sales Return 2,000
Total Creditors 25,000 Advertisement 2,500
Bad Debts 1,250 Interset Account (Dr.) 1,180
Stock (1st April 2017) 34,600 Cash Balance 6,500
Purchases 54,750 Insurance and Tax 12,500
Input IGST A/c 3,000 Salaries 40,820
Input IGST A/c 1,500

Output SGST A/c

1,500

           

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Capital Accounts
 
1,25,000
2
Furniture & Fittings
6,400
 
3
Motor Car
62,500
 
4
Buildings
75,000
 
5
Total Debtors
38,000
 
6
Total Creditors
 
25,000
7
Bad Debts
1,250
 
8
Opening Stock
34,600
 
9
Purchases
54,750
 
10
Input IGST A/c
3,000
 
11
Output CGST A/c
 
1,500
12
Sales
 
1,54,500
13
Bank Overdraft
 
28,500
14
Purchases Return
 
1,250
15
Commission (Cr.)
 
3,750
16
Sales Return
2,000
 
17
Advertisement
2,500
 
18
Interest Account (Dr.)
1,180
 
19
Cash Balance
6,500
 
20
Insurance & Tax
12,500
 
21
Salaries
40,820
 
22
Output SGST A/c
 
1,500
 
Total
3,41,000
3,41,000

Page No 13.24:

Question 7:

​Following are the Ledger Balances of Sri Paul on 31st March, 2018:

   

 

 

 

   
Sundry Debtors (Dr.) 79,300 Interest on Loan 10,000
Sundry Creditors (Cr.) 1,36,500 Conveyance 200
Rent (Cr.) 6,300 Furniture 30,000
Miscellaneous Expenses 3,200 Commission 4,000
Plant and Machinery (Dr.)       7,98,750 Plant and Machinery (Cr.) 90,000
Creditors and Furniture 30,000 Sundry Debtors (Cr.) 20,800
Opening Stock 40,000 Drawings 15,000
Discount (Cr.) 9,900 Salaries and Wages 25,900
Sundry Creditors (Dr.) 36,500 Discount (Dr.) 5,500
Buildings (Dr.) 9,81,000 Capital 5,00,000
Rent 12,000 Purchases 3,13,450
Loan (Cr.) 10,00,000 Sales 5,61,300
Input IGST A/c 2,500 Input SGST A/c 1,000
Input CGST A/c 1,000

Output IGST A/c

4,500

           

You are required to prepare Trial Balance as on 31st March, 2018.

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Sundry Debtors
58,500
 
2
Sundry Creditors
 
1,00,000
3
Rent (Cr.)
 
6,300
4
Miscellaneous Expenses
3,200
 
5
Plant & Machinery
7,08,750
 
6
Creditors for Furniture
 
30,000
7
Opening Stock
40,000
 
8
Discount (Cr.)
 
9,900
9
Buildings
9,81,000
 
10
Rent
12,000
 
11
Loan (Cr.)
 
10,00,000
12
Input IGST A/c
2,500
 
13
Input CGST A/c
1,000
 
14
Interest on Loan
10,000
 
15
Conveyance
200
 
16
Furniture
30,000
 
17
Commission
4,000
 
18
Drawings
15,000
 
19
Salaries & Wages
25,900
 
20
Discount (Dr.)
5,500
 
21
Capital
 
5,00,000
22
Purchases
3,13,450
 
23
Sales
 
5,61,300
24
Input SGST A/c
1,000
 
25
Output IGST A/c
 
4,500
 
Total
22,12,000
22,12,000

Page No 13.24:

Question 8:

From the following balances extracted from the Ledger of Sri Narugopal, prepare Trial Balance as on 31st March, 2018:

   

 

 

 

    ₹     ₹
Capital 75,00,000 Building 7,50,000
Plant 15,00,000 Stock on 1st April, 2017 12,50,000
Cash in Hand 2,500 Cash at Bank 5,75,000
Commission Received     1,75,000 Rates, Taxes and Insurance   30,000
Discount (Dr.) 55,000 Discount (Cr.) 45,000
Purchases Return 50,000 Sundry Creditors  2,50,000
Interest Received 30,000 Sales 62,50,000
Repairing Charges 1,25,000 Book Debts 15,00,000
General Expenses 3,00,000 Rent 62,500
Wages 5,00,000 Purchases 48,00,000
Furnitures 1,20,000 Carriage and Freight 75,000
Sales Return 90,000 Delivery Van 5,00,000
Loan Advanced 6,00,000 Travelling Expenses 50,000
Office Salaries 6,25,000

Drawings

6,00,000

           

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Capital
 
75,00,000
2
Plant
15,00,000
 
3
Cash in Hand
2,500
 
4
Commission Received
 
1,75,000
5
Discount (Dr.)
55,000
 
6
Purchases Return
 
50,000
7
Interest Received
 
30,000
8
Repairing Charges
1,25,000
 
9
General Expenses
3,00,000
 
10
Wages
5,00,000
 
11
Furnitures
1,20,000
 
12
Sales Return
90,000
 
13
Loan Advanced
6,00,000
 
14
Office Salaries
6,25,000
 
15
Building
7,50,000
 
16
Opening Stock
12,50,000
 
17
Cash at Bank
5,75,000
 
18
Rates, Taxes & Insurance
30,000
 
19
Discount (Cr.)
 
45,000
20
Sundry Creditors
 
2,50,000
21
Sales
 
62,50,000
22
Book Debts
15,00,000
 
23
Rent
62,500
 
24
Purchases
48,00,000
 
25
Carriage & Freight
75,000
 
26
Delivery Van
5,00,000
 
27
Travelling Expenses
50,000
 
28
Drawings
6,00,000
 
29
Suspense A/c
1,90,000
 
 
Total
1,43,00,000
1,43,00,000



Page No 13.25:

Question 9:

From the following Ledger account balances extracted from the books of R.J. Gupta, prepare a Trial Balance as on 31st March, 2018:
 

 
 
Purchases
1,04,000
Drawings
7,950
Sundry Debtors
18,550
Sundry Creditors
8,300
Premises
62,000
Returns Inward
5,360
Sales
1,49,000
Furniture
15,600
Returns Outward
8,900
Cash in Hand
390
Rates and Taxes
780
Capital
85,000
Cash at Bank
1,560
Factory wages
5,830
Carriage Inwards
650
Carriage Outwards
260
Salaries
3,900
Rent Received
2,990
Stock (1st April, 2017)
25,000
Insurance
2,100
Input IGST A/c
5,000
Bad Debts
260
Input CGST A/c
2,500
Output IGST A/c
10,000
Input SGST A/c
2,500
   

Answer:

Trial Balance
as on March 31, 2018

S. No.

Particulars

L.F.

Debit

Balance

(Rs in 000')

Credit

Balance

(Rs in 000')

(i)

Purchases

 

1,04,000

 

(ii)

Sundry Debtors

 

18,550

 

(iii)

Premises

 

62,000

 

(iv)

Sales

 

 

1,49,000

(v)

Return Outwards

 

 

8,900

(vi)

Rates and Taxes

 

780

 

(vii)

Cash at Bank

 

1,560

 

(viii)

Carriage Inwards

 

650

 

(ix)

Salaries

 

3,900

 

(x)

Stock (1st April, 2014)

 

25,000

 

(xi)

Drawings

 

7,950

 

(xii)

Sundry Creditors

 

 

8,300

(xiii)

Return Inwards

 

5,360

 

(xiv)

Furniture

 

15,600

 

(xv)

Cash in hand

 

390

 

(xvi

Capital

 

 

85,000

(xvii)

Factory Wages

 

5,830

 

(xviii)

Carriage Outwards

 

260

 

(xix)

Rent Received

 

 

2,990

(xx)

Insurance

 

2,100

 

(xxi)
(xxii)
(xxiii)
(xxiv)
(xxv)

Bad Debts
Input IGST A/c
Input CGST A/c
Input SGST A/c
Output IGST A/c

 

260
5,000
2,500
2,500





10,000

 

 

 

2,64,190

2,64,190

 

 

 

 

 

Page No 13.25:

Question 10:

Following Trial Balance is given but it is not correct. Prepare correct Trial Balance.

         
Debit Balances Amount
(₹)
Credit Balances Amount
(₹)
Building 3,00,000 Capital 3,68,000
Machinery 85,000 Furniture 28,000
Returns Outward         13,000 Sales 5,20,000
Bad Debts 14,000 Debtors 3,00,000
Cash 2,000 Interest Received           13,000
Discount Received 15,000    
Bank Overdraft 50,000    
Creditors 2,50,000    
Purchases 5,00,000    
  12,29,000   12,29,000
     
           

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Building
3,00,000
 
2
Machinery
85,000
 
3
Returns Outward
 
13,000
4
Bad Debts
14,000
 
5
Cash
2,000
 
6
Discount Received
 
15,000
7
Bank Overdraft
 
50,000
8
Creditors
 
2,50,000
9
Purchases
5,00,000
 
10
Capital
 
3,68,000
11
Furniture
28,000
 
12
Sales
 
5,20,000
13
Debtors
3,00,000
 
14
Interest Received
 
13,000
 
Total
12,29,000
12,29,000

Page No 13.25:

Question 11:

Redraft correctly the Trial Balance given below: 

   

 

 

 

Debit Balances Amount
(₹)
Credit Balances Amount
(₹)
Capital  8,000 Debtors 7,580
Bad Debts Recovered      250 Bank Deposits 2,750
Creditors 1,250 Discount Allowed      40
Returns Outward 350 Drawings 600
Bank Overdraft 1,570 Returns Inward 450
Rent 360 Sales 13,690
Salaries 850 Bills Payable 1,350
Trade Expenses 300 Grant Received 1,000
Cash in Hand 210    
Opening Stock 2,450    
Purchases 11,870    
  27,460   27,460
     

 

Answer:

Trial Balance
as on March 31, 2018
S.No.
List of Items
Debit Balances
Credit Balances
1
Capital
 
8,000
2
Bad Debts Recovered
 
250
3
Creditors
 
1,250
4
Returns Outward
 
350
5
Bank Overdraft
 
1,570
6
Rent
360
 
7
Salaries
850
 
8
Trade Expenses
300
 
9
Cash in Hand
210
 
10
Opening Stock
2,450
 
11
Purchases
11,870
 
12
Debtors
7,580
 
13
Bank Deposits
2,750
 
14
Discount Allowed
40
 
15
Drawings
600
 
16
Returns Inward
450
 
17
Sales
 
13,690
18
Bills Payable
 
1,350
19
Grants Received
 
1,000
 
Total
27,460
27,460



Page No 13.26:

Question 12:

Correct the following Trial Balance:

 

Debit Balances

Credit Balances

Opening Stock

1,02,600

Debtors

45,000
Returns Outward
48,000

Carriage Outwards

15,000
Salaries
36,000

Capital

1,65,600
Creditors
84,000

Machinery

54,000
Bank
1,35,000

Returns Inward

9,000
Carriage Inwards
18,000

Insurance Claim Received

12,000
Rent Received
9,000

Trade Expenses

18,000
Discount Allowed
6,000

Sales

4,20,000
Purchases
3,00,000

Building

60,000
Bills Payable 60,000

 

 

 

7,98,600

 

7,98,600

 

 

 

 

Answer:

Trial Balance (Corrected)

Debit

Amount (Rs)

Credit

Amount

(Rs)

Opening Stock

1,02,600

Creditors

84,000

Return Inwards

9,000

Rent Received

9,000

Salaries

36,000

Bills Payable

60,000

Bank

1,35,000

Capital

1,65,600

Carriage Inward

18,000

Return Outwards

48,000

Discount Allowed

6,000

Discount Received

12,000

Purchases

3,00,000

Sales

4,20,000

Debtors

45,000

 

 

Carriage Outwards

15,000

 

 

Machinery

54,000

 

 

Trade Expenses

18,000

 

 

Building

60,000

 

 

 

7,98,600

 

7,98,600

 

 

 

 

Page No 13.26:

Question 13:

Prepare correct Trial Balance from the following Trial Balance in which there are certain mistakes:

 
Heads of Accounts

Dr. (₹)

Cr. (₹)

Cost of Goods Sold 1,50,000 ...
Closing Stock ... 40,000
Debtors ... 60,000
Creditors ... 30,000
Fixed Assets 50,000 ...
Opening Stock 60,000 ...
Expenses ... 20,000
Sales ... 2,00,000
Capital 90,000 ...
     
Total 3,50,000 3,50,000

 

 

 

Answer:

Trial Balance

S. No.

Account Title

Debit

(Rs)

Credit

(Rs)

(i)

Cost of Goods Sold

1,50,000

 

(ii)

Closing Stock

40,000

 

(iii)

Debtors

60,000

 

(iv)

Creditors

 

30,000

(v)

Fixed Assets

50,000

 

(vi)

Expenses

20,000

 

(vii)

Sales

 

2,00,000

(viii)

Capital

 

90,000

 

 

3,20,000

3,20,000

 

 

 

 



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