TS Grewal Accountancy Class 11 Solution Chapter 10 Trial Balance

Read TS Grewal Accountancy Class 11 Solution Chapter 10 Trial Balance below, students should study TS Grewal class 11 Accountancy available on Studiestoday.com with solved questions and answers. These chapter wise answers for class 11 Accountancy have been prepared by teacher of Grade 11. These TS Grewal class 11 Solutions have been designed as per the latest NCERT syllabus for class 11 and if practiced thoroughly can help you to score good marks in standard 11 Accountancy class tests and examinations

Question 1:

Prepare a Trial Balance with the following information:

S. No

Name of Account

Balance (Rs)

S. No

Name of Account

Balance (Rs)

(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

Answer 1:

STATEMENT OF TRIAL BALANCE

Trial Balance

S. No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Capital Account

 

 

2,00,000

2.

Cash Account

 

1,80,000

 

3.

Creditors Account

 

 

1,00,000

4.

Sales Account

 

 

3,00,000

5.

Stock Account

 

70,000

 

6.

Debtors Account

 

3,00,000

 

7.

Bank loan Account

 

 

1,50,000

8.

Purchases Account

 

2,00,000

 

 

Total=

 

7,50,000

7,50,000

 

 

 

 

 


Point of Knowledge:

  1. Trial balance is a list of balances of all Ledger accounts and Cash Book.
  2. Trial balance verifies the arithmetical accuracy of posting of entries from the Journal to the Ledger.

 

PAGE NO 13.23

Question 2:

Journalise the following transactions, post them into Ledger and prepare a Trial Balance:  

 

Date 

Transactions 

(Rs)

Date 

Transactions 

(Rs)

2018

 

 

2018

 

 

Apr. 1

Mohan commenced business with cash

1,00,000

Apr. 20

Received cash from Gopal

3,950

Apr. 3

Bought goods

5,000

 

Discount Allowed

50

Apr. 4

Sold goods to Gopal

4,000

Apr. 25

Paid Wages

700

Apr. 10

Bought goods from Ram

8,000

Apr. 27

Paid to Ram in full settlement

7,700

Apr. 15

Paid trade expenses

2,000

Apr. 30

Paid rent

1,500


Answer 2:

FOLLOWING ARE THE JOURNAL ENTRIES FOR THE ABOVE TRANSACTIONS

Books of Mohan

Journal

Date

Particular

L.F.

Debit

(Rs)

Credit

(Rs)

2018

 

 

 

 

April 01

Cash Account

Dr.

 

1,00,000

 

 

To Capital Account

 

 

1,00,000

 

(Being commenced business with cash)

 

 

 

 

 

 

 

 

April 03

Purchases Account

Dr.

 

5,000

 

 

To Cash Account

 

 

5,000

 

(Being goods purchased for cash)

 

 

 

 

 

 

 

 

April 04

Gopal’s Account

Dr.

 

4,000

 

 

To Sales Account

 

 

4,000

 

(Being goods Sold to gopal on credit)

 

 

 

 

 

 

 

 

April 10

Purchases Account

Dr.

 

 8,000

 

 

To Ram’s Account

 

 

8,000

 

(Being goods Bought from Ram on credit)

 

 

 

 

 

 

 

 

April 15

Trade Expenses Account

Dr.

 

2,000

 

 

To Cash Account

 

 

2,000

 

(Being trade expenses paid)

 

 

 

 

 

 

 

 

April 20

Cash Account

Dr.

 

3,950

 

 

Discount Allowed Account

Dr.

 

 50

 

 

To Gopal’s Account

 

 

4,000

 

(Being received cash and allowed to gopal)

 

 

 

 

 

 

 

 

April 25

Wages Account

Dr.

 

700

 

 

To Cash Account

 

 

700

 

(Being wages paid)

 

 

 

 

 

 

 

 

April 27

Ram’s Account

Dr.

 

8,000

 

 

To Cash Account

 

 

7,700

 

To Discount Received Account

 

 

300

 

(Being cash paid to Ram in full settlement)

 

 

 

 

 

 

 

 

April 30

Rent Account

Dr.

 

1,500

 

 

To Cash Account

 

 

1,500

 

(Being Rent paid)

 

 

 

        

 

LEDGER ACCOUNTS IN THE BOOKS OF MOHAN

 

Capital Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

Balance c/d

 

1,00,000

April 01

By Cash Account

 

1,00,000

 

 

 

 1,00,000

 

 

 

 1,00,000

 

 

 

 

 

 

 

 

         

 

Cash Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount

(Rs)

2018

 

 

 

2018

 

 

 

April 01

To Capital Account

 

1,00,000

April 03

By Purchases Account

 

5,000

April 20

To Gopal’s Account

 

3,950

April 15

By Trade Expenses Account

 

2,000

 

 

 

 

April 25

By Wages Account

 

700

 

 

 

 

April 27

By Ram Account

 

7,700

 

 

 

 

April 30

By Rent Account

 

1,500

 

 

 

 

 

By Balance c/d

 

87,050

 

 

 

1,03,950

 

 

 

1,03,950

 

 

 

 

 

 

 

 

 

Purchases Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 03

To Cash Account

 

5,000

April 30

By Balance c/d

 

13,000

April 10

To Ram’s Account

 

8,000

 

 

 

 

 

 

 

13,000

 

 

 

13,000

 

 

 

 

 

 

 

 

         

 

Gopal’s Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 04

To Sales Account

 

4,000

April 20

By Cash Account

 

3,950

 

 

 

  

April 20

By Discount Allowed Account

 

50

 

 

 

4,000

 

 

 

4,000

 

 

 

 

 

 

 

 

Discount Allowed Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 27

To Gopal’s Account

 

50

April 01

By Balance c/d

 

50

 

 

 

50

 

 

 

50

 

 

 

 

 

 

 

 

                

 

Sales Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

To Balance c/d

 

4,000

April 04

By Gopal’sAccount

 

4,000

 

 

 

4,000

 

 

 

4,000

 

 

 

 

 

 

 

 

         

 

Ram’s Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 27

To Cash Account

 

7,700

April 10

By Purchases Account

 

8,000

 

To Discount Received Account

 

300

 

 

 

 

 

 

 

8,000

 

 

 

8,000

 

 

 

 

 

 

 

 

 

Discount Received Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F

Amount (Rs)

2018

 

 

 

2018

 

 

 

April  20

To Balance c/d

 

300

April 20

To Ram’s Account

 

300

 

 

 

300

 

 

 

300

 

 

 

 

 

 

 

 

         

 

Wages Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 25

To Cash Account

 

700

April 30

To Balance c/d

 

700

 

 

 

700

 

 

 

700

 

 

 

 

 

 

 

 

         

 

Rent Account

Dr.

 

Cr.

Date

Particulars

J.F

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 30

To Cash Account

 

1,500

April 30

To Balance c/d

 

1,500

 

 

 

1,500

 

 

 

1,500

 

 

 

 

 

 

 

 

 

Trade Expenses Account

Dr.

 

Cr.

Date

Particulars

J.F.

Amount (Rs)

Date

Particulars

J.F.

Amount (Rs)

2018

 

 

 

2018

 

 

 

April 15

To Cash Account

 

2,000

April 30

By Balance c/d

 

2,000

 

 

 

2,000

 

 

 

2,000

 

 

 

 

 

 

 

 

         

STATEMENT OF TRIAL BALANCE 

Trial Balance

S. No.

Name of Account

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Capital Account

  

1,00,000

2.

Cash Account

 

87,050

 

3.

Purchases Account

 

13,000

 

4.

Gopal’s Account

 

-

-

5.

Discount allowed Account

 

50

 

6.

Sales Account

  

4000

7.

Ram’s Account

 

-

-

8.

Discount received Account

  

300

9.

Wages Account

 

700

 

10.

Rent Account

 

1500

 

11.

Trade Expenses Account

 

2000

 

 

 Total=

 

 1,04,300

1,04,300

 

 

 

 

 

Point of Knowledge:

  1. Trail Balance is not an account so we can’t use ‘To’ or ‘By’ in this.
  2.  If an Account does not show any balance, it is ignored.
  3.  At the end of the year balance of purchases account will be transferred to the debit of trading account.
  4.  At the end of the year balance of sales account will be transferred to the credit of trading account.

Question 3:

Prepare the Trial Balance of Ankit as on 31st March, 2018. He has omitted to open a Capital Account:  

 

 Name of Account

(Rs)

  Name of Account

(Rs)

Bank Overdraft

85,000

Purchases

4,45,000

Sales

8,10,000

Cash in Hand

8,500

Purchases Return

22,500

Creditors

2,15,000

Debtors

4,00,500

Sales Return

15,750

Wages

96,000

Equipment

25,000

Capital

Need to Find

Opening Stock

3,00,500

Answer 3:

STATEMENT OF TRIAL BALANCE 

Trial Balance of Ankit

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

 

1

Bank Overdraft Account

 

 

85,000

 

2

Sales Account

 

 

8,10,000

 

3

Purchases Return Account

 

 

22,500

 

4

Debtors Account

 

4,00,500

 

 

5

Wages Account

 

96,000

 

 

6

Purchases Account

 

4,45,000

 

 

7

Cash in hand Account

 

8,500

 

 

8

Creditors Account

 

 

2,15,000

 

9

Sales Return Account

 

15,750

 

 

10

Equipment Account

 

25,000

 

 

11

Opening Stock Account

 

3,00,500

 

 

12

Capital Account (Balancing Figure)

 

 

1,58,750

 

 

Total=

 

12,91,250

12,91,250

 

Working Note:-

Amount of Capital Account = Sum of Debit Side – Sum of Credit Side

= 12, 91,250 – 11, 32,500

= 1, 58,750

Point of Knowledge:

  1. Total Method of Trail Balance:- In this method the total of each side of the account is entered respectively in the debit and credit columns of the Trial Balance.
  2. This Trail Balance method is known as the gross trail balance.

Question 4:

Prepare a Trial Balance from the following items:

 

  Name of Account

(Rs)

  Name of Account

 (Rs)

Capital

24,000

Building

12,000

Opening Stock

8,500

Returns Inward

1,900

Furniture

2,600

Returns Outward

350

Purchases

8,950

Trade Expenses

1,000

Cash

7,300

Discount Received

970

Carriage

300

Salary

3,000

Sales

22,500

Office Rent

2,270

Answer 4:

STATEMENT OF TRIAL BALANCE 

Trial Balance

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Capital Account

 

 

24,000

2.

Opening Stock Account

 

8,500

 

3.

Furniture Account

 

2,600

 

4.

Purchases Account

 

8,950

 

5.

Cash Account

 

7,300

 

6.

Carriage Account

 

300

 

7.

Sales Account

 

 

22,500

8.

Building Account

 

12,000

 

9.

Returns Inward Account

 

1,900

 

10.

Returns Outwards Account

 

 

350

11.

Trade Expenses Account

 

1,000

 

12.

Discount Received Account

 

 

970

13.

Salary Account

 

3,000

 

14.

Office Rent Account

 

2,270

 

 

Total=

 

47,820

47,820

Point of Knowledge:-

The opening Stock Account shows a debit balance which is shown on the debit column of a Trial Balance.

Question 5:

The following are the balances extracted from the books of Mr. A. Mukhopadhyay. Prepare a Trial Balance as on 31st March, 2018: 

 Name of Account 

(Rs)

  Name of Account

(Rs)

Cash

2,000

Sundry Creditors

40,000

Capital

80,000

Investment

8,000

Purchases

85,000

Plant and Machinery

15,000

Sales

1,08,400

Building

20,000

Purchases Return

6,000

Furniture

6,000

Sales Return

4,000

Electricity

700

Transportation

1,800

Postage

400

Discount Allowed

500

Drawings

8,000

Printing

5,000

Salaries

6,000

Sundry Debtors

70,000

Travelling Expenses

2,000

Input CGST Account

2,500

Output CGST Account

1,500

Input SGST Account

2,500

Output SGST Account

1,500

Input IGST Account

4,000

Output IGST Account

6,000


Answer 5:

STATEMENT OF TRIAL BALANCE 

Trial Balance of Mr. A. Mukhopadhyay

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Cash Account

 

2,000

 

2.

Capital Account

 

 

80,000

3.

Purchases Account

 

85,000

 

4.

Sales Account

 

 

1,08,400

5.

Purchases Return Account

 

 

6,000

6.

Sales Return Account

 

4,000

 

7.

Transportation Account

 

1,800

 

8.

Discount Allowed Account

 

500

 

9.

Printing Account

 

5,000

 

10.

Sundry Debtors Account

 

70,000

 

11.

Input CGST Account

 

2,500

 

12.

Input SGST Account

 

2,500

 

13.

Input IGST Account

 

4,000

 

14.

Sundry Creditors Account

 

 

40,000

15.

Investments Account

 

8,000

 

16.

Plant & Machinery Account

 

15,000

 

17.

Building Account

 

20,000

 

18.

Furniture Account

 

6,000

 

19.

Electricity Account

 

700

 

20.

Postage Account

 

400

 

21.

Drawings Account

 

8,000

 

22.

Salaries Account

 

6,000

 

23.

Travelling Expenses Account

 

2,000

 

24.

Output CGST Account

 

 

1,500

25.

Output SGST Account

 

 

1,500

26.

Output IGST Account

 

 

6,000

 

Total

 

2,43,400

2,43,400


Point of Knowledge:

  1.  It can be prepared immediately after the completion of posting from books of original entry to the ledger.
  2.  It shows the total amounts of the debit and credit side in each ledger account.

PAGE NO 13.24

Question 6:

From the following information, prepare a Trial Balance of M/s. Prayag for the year ended 31st March, 2018:      

  Name of Account

(Rs)

  Name of Account

(Rs)

Capital Accounts

1,25,000

Sales

1,54,500

Furniture and Fittings

6,400

Bank (Cr. Balance)

28,500

Motor Car

62.500

Purchase Returns

1,250

Buildings

75,000

Commission (Cr.)

3,750

Total Debtors

38,000

Sales Return

2,000

Total Creditors

25,000

Advertisement

2,500

Bad Debts

1,250

Interest Account (Dr.)

1,180

Stock (1st April 2017)

34,600

Cash Balance

6,500

Purchases

54,750

Insurance and Tax

12,500

Input IGST Account

3,000

Salaries

40,820

Input IGST Account

1,500

Output SGST Account

1,500

 

 

 

 

 

 

      

Answer 6:

STATEMENT OF TRIAL BALANCE 

Trial Balance of M/s. Prayag

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Capital AccountsAccount

 

 

1,25,000

2.

Furniture & Fittings Account

 

6,400

 

3.

Motor Car Account

 

62,500

 

4.

Buildings Account

 

75,000

 

5.

Total Debtors Account

 

38,000

 

6.

Total Creditors Account

 

 

25,000

7.

Bad Debts Account

 

1,250

 

8.

Opening Stock Account

 

34,600

 

9.

Purchases Account

 

54,750

 

10.

Input IGST Account

 

3,000

 

11.

Output CGST Account

 

 

1,500

12.

Sales Account

 

 

1,54,500

13.

Bank Account (Credit Balance)

 

 

28,500

14.

Purchases Return Account

 

 

1,250

15.

Commission Account (Credit)

 

 

3,750

16.

Sales Return Account

 

2,000

 

17.

Advertisement Account

 

2,500

 

18.

Interest Account(Debit )

 

1,180

 

19.

Cash Balance Account

 

6,500

 

20.

Insurance & Tax Account

 

12,500

 

21.

Salaries Account

 

40,820

 

22.

Output SGST Account

 

 

1,500

 

Total=

 

3,41,000

3,41,000

Point of Knowledge:

  1.  Sales Returns Account always shows a debit balance and hence us shown in the debit column of a trail balance
  2. Financial statement are normally prepared on the basis of trial balance, otherwise the work of making financial statement may be difficult or not possible.

Question 7:

Following are the Ledger Balances of Sri Paul on 31st March, 2018:

 

(Rs)

 

(Rs)

Sundry Debtors (Dr.)

79,300

Interest on Loan

10,000

Sundry Creditors (Cr.)

1,36,500

Conveyance

200

Rent (Cr.)

6,300

Furniture

30,000

Miscellaneous Expenses

3,200

Commission

4,000

Plant and Machinery (Dr.)      

7,98,750

Plant and Machinery (Cr.)

90,000

Creditors and Furniture

30,000

Sundry Debtors (Cr.)

20,800

Opening Stock

40,000

Drawings

15,000

Discount (Cr.)

9,900

Salaries and Wages

25,900

Sundry Creditors (Dr.)

36,500

Discount (Dr.)

5,500

Buildings (Dr.)

9,81,000

Capital

5,00,000

Rent

12,000

Purchases

3,13,450

Loan (Cr.)

10,00,000

Sales

5,61,300

Input IGST Account

2,500

Input SGST Account

1,000

Input CGST Account

1,000

Output IGST Account

4,500

You are required to prepare Trial Balance as on 31st March, 2018.

Answer 7:

STATEMENT OF TRIAL BALANCE 

Trial Balance

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1

Sundry Debtors Account

 

58,500

 

2

Sundry Creditors Account

 

 

1,00,000

3

Rent Account (Credit)

 

 

6,300

4

Miscellaneous Expenses Account

 

3,200

 

5

Plant & Machinery Account

 

7,08,750

 

6

Creditors for Furniture Account

 

 

30,000

7

Opening Stock Account

 

40,000

 

8

Discount Account (Credit)

 

 

9,900

9

Buildings Account

 

9,81,000

 

10

Rent Account

 

12,000

 

11

Loan Account (Credit)

 

 

10,00,000

12

Input IGST Account

 

2,500

 

13

Input CGST Account

 

1,000

 

14

Interest on Loan Account

 

10,000

 

15

Conveyance Account

 

200

 

16

Furniture Account

 

30,000

 

17

Commission Account

 

4,000

 

18

Drawings Account

 

15,000

 

19

Salaries & Wages Account

 

25,900

 

20

Discount Account (Debit)

 

5,500

 

21

Capital Account

 

 

5,00,000

22

Purchases Account

 

3,13,450

 

23

Sales Account

 

 

5,61,300

24

Input SGST Account

 

1,000

 

25

Output IGST Account

 

 

4,500

 

Total

 

22,12,000

22,12,000

Point of Knowledge:

  1. the total of the debit and credit sides of the trial balance is the same as the total of the debit and credit sides of the journal on the basis of which the trial balance has been prepared.

Question 8:

From the following balances extracted from the Ledger of Sri Narugopal, prepare Trial Balance as on 31st March, 2018:

 

(Rs)

 

 (Rs)

Capital

75,00,000

Building

7,50,000

Plant

15,00,000

Stock on 1st April, 2017

12,50,000

Cash in Hand

2,500

Cash at Bank

5,75,000

Commission Received    

1,75,000

Rates, Taxes and Insurance  

30,000

Discount (Dr.)

55,000

Discount (Cr.)

45,000

Purchases Return

50,000

Sundry Creditors 

2,50,000

Interest Received

30,000

Sales

62,50,000

Repairing Charges

1,25,000

Book Debts

15,00,000

General Expenses

3,00,000

Rent

62,500

Wages

5,00,000

Purchases

48,00,000

Furniture

1,20,000

Carriage and Freight

75,000

Sales Return

90,000

Delivery Van

5,00,000

Loan Advanced

6,00,000

Travelling Expenses

50,000

Office Salaries

6,25,000

Drawings

6,00,000


Answer 8:

STATEMENT OF TRIAL BALANCE 

Trial Balance of Sri Narugopal

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1

Capital Account

 

 

75,00,000

2

Plant Account

 

15,00,000

 

3

Cash in Hand Account

 

2,500

 

4

Commission Received Account

 

 

1,75,000

5

Discount (Dr.) Account

 

55,000

 

6

Purchases Return Account

 

 

50,000

7

Interest Received Account

 

 

30,000

8

Repairing Charges Account

 

1,25,000

 

9

General Expenses Account

 

3,00,000

 

10

Wages Account

 

5,00,000

 

11

Furniture’s Account

 

1,20,000

 

12

Sales Return Account

 

90,000

 

13

Loan Advanced Account

 

6,00,000

 

14

Office Salaries Account

 

6,25,000

 

15

Building Account

 

7,50,000

 

16

Opening Stock Account

 

12,50,000

 

17

Cash at Bank Account

 

5,75,000

 

18

Rates, Taxes & Insurance Account

 

30,000

 

19

Discount (Cr.) Account

 

 

45,000

20

Sundry Creditors Account

 

 

2,50,000

21

Sales Account

 

 

62,50,000

22

Book Debts Account

 

15,00,000

 

23

Rent Account

 

62,500

 

24

Purchases Account

 

48,00,000

 

25

Carriage & Freight Account

 

75,000

 

26

Delivery Van Account

 

5,00,000

 

27

Travelling Expenses Account

 

50,000

 

28

Drawings Account

 

6,00,000

 

29

Suspense Account

 

1,90,000

 

 

Total=

 

1,43,00,000

1,43,00,000

Point of Knowledge:

  1. Accounts of income and gains shows credit balance and are shown on the credit side of a trial balance.
  2. Account of expenses and losses show debit balance and are shown on the debit side of a trial balance. 


PAGE NO 13.25

Question 9:

From the following Ledger account balances extracted from the books of R.J. Gupta, prepare a Trial Balance as on 31st March, 2018:
 

 Name of Accounts

(Rs)

 Name of Accounts

(Rs)

Purchases

1,04,000

Drawings

7,950

Sundry Debtors

18,550

Sundry Creditors

8,300

Premises

62,000

Returns Inward

5,360

Sales

1,49,000

Furniture

15,600

Returns Outward

8,900

Cash in Hand

390

Rates and Taxes

780

Capital

85,000

Cash at Bank

1,560

Factory wages

5,830

Carriage Inwards

650

Carriage Outwards

260

Salaries

3,900

Rent Received

2,990

Stock (1st April, 2017)

25,000

Insurance

2,100

Input IGST Account

5,000

Bad Debts

260

Input CGST Account

2,500

Output IGST Account

10,000

Input SGST Account

2,500

 

 


Answer 9:

STATEMENT OF TRIAL BALANCE 

Trial Balance of Mr. R.J. Gupta
as on March 31, 2018

S. No.

Head of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)

1.

Purchases Account

 

1,04,000

 

2.

Sundry Debtors Account

 

18,550

 

3.

Premises Account

 

62,000

 

4.

Sales Account

 

 

1,49,000

5.

Return Outwards Account

 

 

8,900

6.

Rates and Taxes Account

 

780

 

7.

Cash at Bank Account

 

1,560

 

8.

Carriage Inwards Account

 

650

 

9.

Salaries Account

 

3,900

 

10.

Stock (1st April, 2014) Account

 

25,000

 

11.

Drawings Account

 

7,950

 

12.

Sundry Creditors Account

 

 

8,300

13.

Return Inwards Account

 

5,360

 

14.

Furniture Account

 

15,600

 

15.

Cash in hand Account

 

390

 

16.

Capital Account

 

 

85,000

17.

Factory Wages Account

 

5,830

 

18.

Carriage Outwards Account

 

260

 

19.

Rent Received Account

 

 

2,990

20.

Insurance Account

 

2,100

 

21.

22.
23.
24.
25.

Bad Debts Account
Input IGST Account
Input CGST Account
Input SGST Account
Output IGST Account

 

260
5,000
2,500
2,500





10,000

 

 

 

2,64,190

2,64,190

 

 

 

 

 

Point of Knowledge:

  1. At the end of the year balance of purchases account will be transferred to the debit of trading account.
  2. Trail Balance helps in locating errors in book keeping work. It should, be noted that it does not disclose all the errors in book keeping work but only the arithmetical inaccuracies.

PAGE NO 13.25

Question 10:

Following Trial Balance is given but it is not correct. Prepare correct Trial Balance.

Debt Balances

Amount
(Rs)

Credit Balances

Amount
(Rs)

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 10:

STATEMENT OF TRIAL BALANCE 

Trial Balance

as on March 31, 2018

S.No.

Name of Accounts

L.F.

Debit

(Rs)

Credit

(Rs)