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Question

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

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Solution

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

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