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
	​

Answer 1

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