Question

Following balances were extracted from the books of Ravinder Associates as at 31st March, 2017 :

	(₹)		(₹)
Sundry Debtors	4,10,000	Stock (April 1, 2016)	2,30,000
Sundry Creditors	80,000	Premises	12,00,000
Rent and Taxes	48,000	Fixtures & Fittings	3,10,000
Purchases	34,00,000	Bad Debts written off	8,000
Sales	56,00,000	Rent received from sub-let of part of premises	30,000
Trade Expenses	12,000	Loan from Mukul	1,50,000
Returns Outwards	80,000	Interest on Mukul's Loan	15,000
Returns Inwards	1,20,000	Drawings	40,000
Expenses	4,000	Cash in hand	75,000
Motor Vehicles	6,50,000	Stock on 31st March, 2017
Electricity	25,000	(not adjusted)	3,80,000

You are required to prepare the trial balance treating the difference as his capital.

Answer 1

Books of Ravinder Associates Trial Balance as on March 31, 2017
Name of Accounts	L.F.	Debit Balance (Rs)	Credit Balance (Rs)
Sundry Debtors		4,10,000
Sundry Creditors			80,000
Rent & Taxes		48,000
Purchases		34,00,000
Sales			56,00,000
Trade Expenses		12,000
Return Outwards			80,000
Return Inwards		1,20,000
Expenses		4,000
Motor Vehicles		6,50,000
Electricity		25,000
Opening Stock (on April 01, 2004)		2,30,000
Premises		12,00,000
Fixture & Fittings		3,10,000
Bad Debts written off		8,000
Loan from Mukul			1,50,000
Interest on Mukul’s Loan		15,000
Drawings		40,000
Cash in Hand		75,000
Rent received from Sub-let of part of Premises			30,000
Capital (Balancing Figure)			6,07,000
Total		65,47,000	65,47,000

Note: Closing Stock of Rs 3,80,000 will not appear in Trial Balance, because it has not been accounted yet.