Indicate against each amount whether it is a debit or a credit balance and prepare a trial balance as at March 31, 2009 based on the following balances :
Accounts Title Amt. (Rs)
Capital 1,00,000
Drawings 16,000
Machinery 20,000
Sales 2,00,000
Purchase 2,10,000
Sales return 20,000
Purchase return 30,000
Wages 40,000
Goodwill 60,000
Interest received 15,000
Discount allowed 6,000
Bank overdraft 22,000
Bank loan 90,000
Debtors
Nathu 55,000
Roopa 20,000
Creditors
Reena 35,000
Ganesh 25,000
Cash 54,000
Stock on April 1, 2004 16,000

Open in App

Solution

Trial Balance as on 31st March, 2009
Account Title Amt. (Dr) Amt. (Cr)
Capital 1,00,000
Drawings 16,000
Machinery 20,000
Sales 2,00,000
Purchase 2,10,000
Sales return 20,000
Purchase return 30,000
Wages 40,000
Goodwill 60,000
Interest received 15,000
Discount allowed 6,000
Bank overdraft 22,000
Bank loan 90,000
Debtors
Nathu 55,000
Roopa 20,000
Creditors
Reena 35,000
Ganesh 25,000
Cash 54,000
Stock on April 1,2004 16,000
Total 5,17,000 5,17,000

Suggest Corrections

Similar questions

From the following trial balance of Mr. A. Lal, prepare trading, profit and loss account and balance sheet as on March 31, 2017.

Account Title	Debit Amount Rs	Credit Amount Rs
Stock as on April 01, 2016	16,000
Purchases and Sales	67,600	1,12,000
Returns inwards and outwards	4,600	3,200
Carriage inwards	1,400
General expenses	2,400
Bad debts	600
Discount received		1,400
Bank over draft		10,000
Interest on bank overdraft	600
Commission received		1,800
Insurance and taxes	4,000
Scooter expenses	200
Salaries	8,800
Cash in hand	4,000
Scooter	8,000
Furniture	5,200
Building	65,000
Debtors and Creditors	6,000	16,000
Capital		50,000

Closing stock Rs 15,000.

Q. From the following Trial Balance you are required to prepare trading and profit and loss account for the year ending March 31, 2017 and Balance Sheet on that date.

Particulars	Amount (₹)	Particulars	Amount (₹)
Opening stock	25,000	Sales	7,00,000
Furniture	16,000	Creditors	72,500
Purchases	5,55,300	Bank Overdraft	50,000
Carriage Inwards	4,700	Provision for bad and doubtful debts	2,100
Bad debts	1,800	Discount	500
Wages	52,000	Capital	2,00,000
Debtors	80,000	Purchases Return	20,000
Sales Return	15,000
Rent	24,000
Miscellaneous Expenses	3,400
Salaries	68,000
Cash	8,900
Drawings	14,000
Buildings	1,60,000
Advertising	10,000
Interest on Bank Overdraft	7,000

	10,45,100		10,45,100

Adjustments

1. Closing stock valued at ₹ 36,000.
2. Private purchases amounting to ₹ 5,000 debited to purchases account.
3. Provision for doubtful debts @ 5% on debtors.
4. Sign board costing ₹ 4,000 includes in advertising.
5. Depreciate furniture by 10%.

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Give one word, term or phrase for the following statement:

1) A List of Debit Balances and Credit balances in the ledger.
2) A Statement prepared to provide the base for preparing the final accounts.
3) A statement is prepared without balancing the ledger account.
4) Mention the side where goodwill A/c is appeared in the Trial Balance.
5) A List of both Ledger balances which is prepared after the closing of ledger Accounts.

Q. Following is the Trial Balance as on 31st March 2016. Prepare Trading and Profit and Loss Account and Balance Sheet :-

Particulars	Debit (₹)	Credit (₹)
Stock (1st April 2015)	8,000
Sales		2,20,000
Purchases	1,26,000
Productive Wages	56,500
Salaries	16,000
Stores Consumed	6,050
Carriage	3,050
Rent and Rates	5,200
Insurance	1,320
Machinery	52,000
Building	67,000
Capital less Drawings		1,45,600
Sundry Debtors	44,000
Sundry Creditors		20,000
Secured Loan		15,000
Furniture	3,350
General Expenses	2,600
Cash in hand	1,930
Bad Debts	1,020
Bank	6,580
Total	4,00,600	4,00,600
Total

Additional Information :
(a) Stock on 31st March 2016 is ₹ 20,600.
(b) Depreciate machinery @ 10% p.a.
(c) Make a Provision @ 5% for Doubtful Debts.
(d) Provide

2 \frac{1}{2} %

for discount on sundry debtors.
(e) Rent and Rates include security deposit of ₹ 400.
(f) Insurance prepaid ₹ 120.

Join BYJU'S Learning Program

Accounts Title	Amt. (Rs)
Capital	1,00,000
Drawings	16,000
Machinery	20,000
Sales	2,00,000
Purchase	2,10,000
Sales return	20,000
Purchase return	30,000
Wages	40,000
Goodwill	60,000
Interest received	15,000
Discount allowed	6,000
Bank overdraft	22,000
Bank loan	90,000
Debtors
Nathu	55,000
Roopa	20,000
Creditors
Reena	35,000
Ganesh	25,000
Cash	54,000
Stock on April 1, 2004	16,000

Account Title	Amt. (Dr)	Amt. (Cr)
Capital		1,00,000
Drawings	16,000
Machinery	20,000
Sales		2,00,000
Purchase	2,10,000
Sales return	20,000
Purchase return		30,000
Wages	40,000
Goodwill	60,000
Interest received		15,000
Discount allowed	6,000
Bank overdraft		22,000
Bank loan		90,000
Debtors
Nathu	55,000
Roopa	20,000
Creditors
Reena		35,000
Ganesh		25,000
Cash	54,000
Stock on April 1,2004	16,000
Total	5,17,000	5,17,000