Question

From the following list of balances extracted from the books of Shri Sahiran Prepare a trial balance as on 31st March, 2016.

$\begin{array}{cccc}\text{Name of Accounts}& \text{Amt (Rs.)}& \text{Name of Accounts}& \text{Amt (Rs.)}\\ \text{Stork on 1st April,2015}& 22,000& \text{Discount Received}& 20,000\\ \text{Purchases}& 2,57,500& \text{Long-term Borrowings}& 1,70,000\\ \text{Sales}& 3,61,800& \text{Provision for Doubtful Debts}& 5,000\\ \text{Carriage Inwards}& 300& \text{Provision for Depreciation on Machinery}& 5,000\\ \text{Carriage Outwards}& 120& \text{Bad Debts}& 600\\ \text{Return Inwards}& 23,500& \text{Stationary}& 420\\ \text{Return Outwards}& 2,000& \text{Insurance}& 340\\ \text{Debtors}& 32,000& \text{Wages and Salaries}& 18,500\\ \text{Creditors}& 17,400& \text{Investment}& 30,000\\ \text{Leasehold Premises}& 1,60,000& \text{Interest on Ivestment}& 2,700\\ \text{Equipment}& 2,00,000& \text{Cash and Bank Balance}& 1,240\\ \text{Repairs to Equipment}& 2,000& \text{Premises}& 60,000\\ \text{Depreciation}& 8,000& \text{Funiture and Fixiures}& 14,000\\ \text{Bills Receivable}& 840& \text{Miscellaneous Expenses}& 520\\ \text{Bills Payable}& 480& \text{Miscellaneous Income}& 140\\ \text{Bank Overdraft}& 1,50,000& \text{Loan from Axis Bank}& 25,000\\ \text{Interest on Overdraft}& 640& \text{Interest on above Loan}& 3,000\\ \text{Purchases Return}& 50,000& \text{Capital}& 70,000\\ \text{Discount Allowed}& 4,000& \text{Proprietor's Withdrawals (Drawings)}& 6,000\\ \text{Salaries}& 10,000& \text{Computers}& 9,000\\ & & \text{Goodwill}& 15,000\\ & & \text{Stock on 31st March, 2016 (not adjusted)}& 31,000\end{array}$

Answer 1

$\begin{array}{c}\\ \text{Trial Balance}\\ \text{as on 31st March, 2016}\end{array}$

$\begin{array}{ccccc}\text{Name of Accounts}& \text{LF}& \text{Debit Balance (Rs.)}& \text{Credit Balance (Rs.)}& \\ \text{Stork on 1st April, 2015}& & 22,000& & \\ \text{Purchases}& & 2,57,500& & \\ \text{Sales}& & & 3,61,800& \\ \text{Carriage Inwards}& & 300& & \\ \text{Carriage Outwards}& & 120& & \\ \text{Return Inwards}& & 23,500& & \\ \text{Return Outwards}& & & 2,000& \\ \text{Debtors}& & 32,000& & \\ \text{Creditors}& & & 17,400& \\ \text{Leasehold Premises}& & 1,60,000& & \\ \text{Equipment}& & 2,00,000& & \\ \text{Repairs to Equipment}& & 2,000& & \\ \text{Depreciation}& & 8,000& & \\ \text{Bills Receivable}& & 840& & \\ \text{Bills payable}& & & 480& \\ \text{Bank Overdraft}& & & 1,50,000& \\ \text{Interest on Overdraft}& & 640& & \\ \text{Purchases Return}& & & 50,000& \\ \text{Discount Allowed}& & 4,000& & \\ \text{Salaries}& & 10,000& & \\ \text{Discount Received}& & & 20,000& \\ \text{Long-term Borrowings}& & & 1,70,000& \\ \text{Provisons for Doubtful Debts}& & & 5,000& \\ \text{Provision for Depreciation on Machinery}& & & 5,000& \\ \text{Bad Debts}& & 600& & \\ \text{Stationery}& & 420& & \\ \text{Insurance}& & 340& & \\ \text{Wages and Salaries}& & 18,500& & \\ \text{Investment}& & 30,000& & \\ \text{Interest on Investment}& & & 2,700& \\ \text{Cash and Bank Balance}& & 1,240& & \\ \text{Premises}& & 60,000& & \\ \text{Furniture and Fixtures}& & 14,000& & \\ \text{Miscellaneous Expenses}& & 520& & \\ \text{Miscellaneous Income}& & & 140& \\ \text{Loan from Axis Bank}& & & 25,000& \\ \text{Interest on above Loan}& & 3,000& & \\ \text{Capital}& & & 70,000& \\ \text{Proprietor's Withdrawals (Drawings)}& & 6,000& & \\ \text{Computers}& & 9,000& & \\ \text{Goodwill}& & 15,000& & \\ \text{Total}& & \overline{\underset{–}{8,79,520}}& \overline{\underset{–}{8,79,520}}& \\ & & & & \end{array}$

Closing stock will not be show in trial balance because it has not yet been adjusted.