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CA-Foundation > Principles and Practice of Accounting > Accounting Process - Trial Balance >

Accounting Process - Trial Balance Notes

Q1.

An inexperienced bookkeeper has drawn up a trial balance for the year ended 30th june,2017.

 

Debit(Rs.)

Credit(Rs.)

 

Provision for Doubtful Debts

200

-

 

Bank Overdraft

1,654

-

 

Capital

-

4,591

 

Trade Payables

-

1,637

 

Trade Receivables

2,983

-

 

Discount Received

252

-

 

Discount Allowed

-

733

 

Drawings

1,200

-

 

Office  Furniture

2,155

-

 

General Expenses

-

829

 

Purchases

10,923

-

 

Returns Inward

-

330

 

Rent & Rates

314

-

 

Salaries

2,520

-

 

Sales

-

16,882

 

Inventory

2,418

-

 

Provision for Depreciation on Furniture

364

-

 

Total

24,983

25,002

 









Required:

Draw up  a ‘Corrected’ Trail Balance, debiting or crediting any residual errors to a Suspense Account.

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Q2.

From the following information prepare necessary ledger A/c’s, balances the accounts and prepare trial balance of Hari:

2012

March

1 Started business with cash

Rs. 50,000

 

2 Deposited in Bank A/c

Rs. 1,000

 

5 Purchased Computer

Rs. 30,000

 

6 Purchased goods from Prabhu

Rs. 5,000

 

7 Goods sold to Sai

Rs. 2,000

 

10 Furniture Purchased from Mohan

Rs. 10,000

 

12 Commission received

Rs. 2,000

 

15 Rent Paid

Rs. 500

 

20 Salary Paid

Rs. 500

 

25 Amount received from Sai

Rs. 1,000

 

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Q3.

Prepare Trial Balance from the following ledger of Shri. Gajanan as on 31st March, 2010.

Particulars

Rs.

Particulars

Rs.

Particulars

Rs.

Capital

50,000

Carriage

2,500

Bank Loan

2,000

Debtors

2,500

Purchases

15,000

Cash in hand

1,250

Wages

3,500

Salary

4,500

Rent

2,900

Depreciation

1,500

Sales

40,000

Drawings

1,500

Furniture

12,500

Postage

250

 

 

Advertisement

2,500

Creditors

4,000

 

 

Bad Debts

600

Land and Building

45,000

 

 

 

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Q4.

From the following Ledger balance Prepare Trial Balance of Mrs. Karina as on 31st March, 2011

Particulars

Rs .

Particulars

Rs.

Particulars

Rs.

Capital

50,000

Wages

2,800

Rent, Rates & Taxes

2,300

Plant & Machinery

 8,000

Debtors

13,000

Reserve for doubtful debts

500

Insurance

3,600

Purchases

10,500

Sales

28,500

Drawings

4,000

Creditors

5,000

Outstanding Expenses

400

Motor van

5,400

Land & Building

10,500

Salaries

5,000

Stock (1-4-10)

14,000

Office Expenses

1,700

Bad Debts

1,000

Cash at Bank

1,200

Carriage Inward

1,400

 

 

 

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Q5.

From the following ledger Balance Prepare trial Balance of Shreenath as on 31st March, 2012

Particulars

Rs.

Particulars

Rs.

Particulars

Rs

Stock (1-4-11)

50,000

Goodwill

1,80,000

Drawings

10,000

Purchases

1,50,000

Sales Return

20,000

Bills Receivable

15,000

Capital

3,00,000

Purchase Return

7,250

Bank Loan

1,25,000

Machinery

1,00,000

General expenses

1,250

Sundry Creditors

75,000

Sundry Debtors

50,000

Sales

2,00,000

Bad debts

2,500

Building

50,000

Carriage outward

1,750

Interest Received

1,800

Postage & Telegrams

2,500

Bills Payable

35,000

Commission Rece.

2,000

Cash at Bank

10,550

Rent

2,500

Audit Fees

5,000

Salaries

75,000

Wages

20,000

 

 

 

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