Question

A book-keeper extracted the following Trial Balance as at 31st March, 2017 :

Name of Accounts	Balance Dr.	Balance Cr.
	₹	₹
Stock on 1.4.2016	2,50,000
Purchases	6,50,000
Sales		10,00,000
Motor Vans	3,80,000
Debtors and Creditors	1,50,000	94,000
Premises		3,00,000
Shop fittings		20,000
Interest on Bank Overdraft		16,000
Purchases Returns	10,000
Sales Returns		20,000
Lighting and heating	18,000
Capital		5,00,000
Discount Received	2,000
Repairs	2,500
Electricity		6,500
Bank Overdraft	2,00,000
Stock on 31.3.2017	3,30,000
Rent from subletting		15,000
Bills Receivable		8,000
Suspense Account (difference in books)		13,000
Total	19,92,500	19,92,500

You are required to redraft the trial balance correctly.

Answer 1

Trial Balance as on March 31, 2017
Name of Accounts	L.F.	Debit Balance (Rs)	Credit Balance (Rs)
Stock on 1.4.2004		2,50,000
Purchases		6,50,000
Sales			10,00,000
Motor Van		3,80,000
Debtors		1,50,000
Creditors			94,000
Premises		3,00,000
Shop Fittings		20,000
Interest on Bank Overdraft		16,000
Purchases Return			10,000
Sales Return		20,000
Lighting & Heating		18,000
Capital			5,00,000
Discount Received			2,000
Repairs		2,500
Electricity		6,500
Bank Overdraft			2,00,000
Rent from subletting			15,000
Bills Receivable		8,000
Total		18,21,000	18,21,000

Note: Closing Stock of Rs 3,30,000 will not appear in Trial Balance, because it has not been accounted yet.