Question

Extract of trial balance of Mr. Q is as follows:

Particulars	Dr. Rs	Cr. Rs
Sundry debtors	1,00,000	-
Sundry creditors	-	78,000

Additional information:
Included in sundry debtors Rs 5,000 due from Mr A. Included in sundry creditors Rs 2,000 payable to Mr. A.
Sundry debtors and creditors will appear in balance sheet at Rs _________ & Rs ____________.

• A. 97,000, 75,000
• B. 98,000, 76,000
• C. 95,000, 76,000
• D. 98,000, 72,000

Answer 1

Answer: (A)

97,000, 75,000

Mr. A is a common person which is included in Sundry Debtors and Sundry Creditors. A common amount of Rs.3000 has to be adjusted from sundry debtors and sundry creditors to show the net balance in the balance sheet.

This will be presented as:

Sundry Debtors Sundry Creditors

Amount as per trial balance: Rs.100000 Rs.78000

Less: Amount due to/from Mr. A Rs. 3000 Rs. 3000

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Net Balance to be shown in B/S Rs.97000 Rs.75000

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