NOTES

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

 

Notes of Accounting Process - Trial Balance (Old & New)

1. An inexperienced bookkeeper has drawn up a trial balance for the year ended 30^th 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.

   
   see in detail
   
   

2. 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

    

   
   see in detail
   
   

3. Prepare Trial Balance from the following ledger of Shri. Gajanan as on 31^st 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

    

   
   see in detail
   
   

4. From the following Ledger balance Prepare Trial Balance of Mrs. Karina as on 31^st 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

    

   
   see in detail
   
   

5. From the following ledger Balance Prepare trial Balance of Shreenath as on 31^st 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

    

   
   see in detail