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Standard XI
Accountancy
Finding Cash Balance
Prepare a Tri...
Question

Prepare a Trial Balance with the following information:
Sr. No Name of Account Balance
(₹)		 Sr. No Name of Account Balance
(₹)
(i)
(iii)
(v)
(vii)
 Capital
Cash
Creditors
Sales
2,00,000
1,80,000
1,00,000
3,00,000
(ii)
​(iv)
(vi)
(viii)
 Stock
Debtors
Bank Loan
Purchases
70,000
3,00,000
1,50,000
2,00,000

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Solution

Trial Balance

S. No.

Account Title

Debit

Balance

(Rs)

Credit

Balance

(Rs)

(i)

Capital

2,00,000

(ii)

Stock

70,000

(iii)

Cash

1,80,000

(iv)

Debtors

3,00,000

(v)

Creditors

1,00,000

(vi)

Bank Loan

1,50,000

(vii)

Sales

3,00,000

(viii)

Purchases

2,00,000

7,50,000

7,50,000


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Q. From the following balances, prepare Trading and Profit and Loss Account and Balance Sheet:
Debit Balances:
₹
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₹
Machinery
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45,000
Debtors 2,70,000 Sundry Expenses 20,000
Drawings 90,000 Carriage 15,000
Purchases 9,50,000 Credit Balances:
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Closing Stock was valued at ₹ 30,000.
Q. From the following balances, prepare Trading and Profit and Loss Account and the Balance Sheet:
Debit Balances:
₹
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₹
Machinery
2,00,000
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Building 1,50,000 Rent 45,000
Debtors 2,70,000 Sundry Expenses 20,000
Drawings 90,000 Carriage 15,000
Purchases 9,50,000 Credit Balances:
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Closing Stock was of ₹ 70,000 but its net realisable value was estimated at ₹ 60,000.
Q. A book-keeper extracted the following Trial Balance as at 31st March, 2017 :
Name of Accounts Balance
Dr.
Balance
Cr.
₹ ₹
Stock on 1.4.2016 2,50,000
Purchases 6,50,000
Sales 10,00,000
Motor Vans 3,80,000
Debtors and Creditors 1,50,000 94,000
Premises 3,00,000
Shop fittings 20,000
Interest on Bank Overdraft 16,000
Purchases Returns 10,000
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Lighting and heating 18,000
Capital 5,00,000
Discount Received 2,000
Repairs 2,500
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Bank Overdraft 2,00,000
Stock on 31.3.2017 3,30,000
Rent from subletting 15,000
Bills Receivable 8,000
Suspense Account (difference in books) 13,000
Total 19,92,500 19,92,500

You are required to redraft the trial balance correctly.
Q. Prepare Trading and Profit and Loss Account and Balance Sheet of Jagat Shah as at 31st March, 2018 from the following balances:
₹
₹
Capital (Cr.)
3,60,000
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60,000
Machinery
70,000
 General Expenses
20,000
Sales 8,20,000 Rent 50,000
Purchases 4,00,000 Purchases Return 5,000
Sales Return 10,000 Debtors 3,00,000
Stock on 1st April, 2017 1,00,000 Cash 40,000
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The Closing Stock was valued at ₹ 2,00,000.
Q. ​On 31st March, 2018 the following Trial Balance was extracted from the books of Mohan:

Particulars Debit Balances
(₹)		 Credit Balances
(₹)
Capital 3,00,000
Plant and Machinery 50,000
Debtors 2,00,000
Creditors 1,00,000
Loan 95,000
Interest on Loan 3,000
Cash 20,000
Provision for Doubtful Debts 7,000
Stock on 1st April, 2017 68,000
Motor Vehicles 1,00,000
Bank 35,000
Land and Building 1,20,000
Bad Debts 5,000
Purchases 6,60,000
Sales 11,00,000
Purchases Return 15,000
Sales Return 80,000
Carriage Outwards 25,000
Carriage Inwards 30,000
Salaries 90,000
Rent and Insurance 30,000
Advertising 35,000
Discount Received 5,000
General Expenses 34,000
Bills Receivable 60,000
Bills Payable 20,000
Rent Received 3,000
Total 16,45,000 16,45,000
​
Prepare Trading and Profit and Loss Account for the year ended 31st March, 2018 and Balance Sheet as at that date after taking into account the following:
(a) Stock as at 31st March, 2018 was valued at ₹70,000.
(b) All debtors are considered good for recovery.
(c) Depreciate Motor Vehicles by 20%.
(d) Bank intimation of customer's cheque of ₹10,000 being dishonoured is not recorded in the books.
(e) Travelling expenses of ₹5,000 paid to sales person was wrongly debited to his Personal Account and was included in debtors.
(f) Amount of ₹6,000 received from Ronit was credited to his account and was included in creditors. This amount was written off as bad debt in earlier years.
(g) Drawings included an amount of ₹2,000 being amount drawn in cash. It was used by Mohan for Purchase of stationery used in business.
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