Question

48. The trial balance of a business as on 31st December, 2016 is given below:
337
IWB HS)
annum.
2500
333
Cr.
+
Dr.
₹
30,000 Reserve
5,000 Sundry creditors
6,900 Sales
6,700
Capital
20,300 Purchases returns
86,600 Discount received
16,800 Bills payable
10,000 Commission
25,000
400
700
560
29,340
670
400
630
Freehold premises
Salaries
Cash at bank
Wages
Stock (opening)
Purchases
Bills receivable
Furniture
Plant
Discount
Sales returns
Carriage outward
Sundry debtors -
Freight
Cash in hand
Carriage inward
16,000
20,500
1,40,000
30,000
1,000
4,000
7,500
21,000
5,305
-8, @ 20%
2,40,000
2,40,000
% on debt
[WB
count for
Prepare : (a) a Trading Account; (b) a Profit and Loss Account for the year ended 31st December, 2016;
and (c) a Balance Sheet as on that date after taking into account the following adjustments :
(1) Closing stock 30,000; (ii) Outstanding liabilities for : Salaries * 1,500, Wages * 1,000; (iii) Depreciate
plant @ 20% per annum and furniture @ 10% per annum; (iv) Sundry debtors include * 1,340 as bad ;
(u) Create a provision for bad debt @ 5% on the balance amount of sundry debtors.​

Answer 1

Answer:

The trial balance of a business as on 31st December, 2016 is given below:

Explanation:

The quantity invested within the business whether or not or not within the way of coins or type by way of the use of the proprietor or owner of the business is known as capital. The capital account can be credited and the coins or belongings brought in might be debited

while the coins is to be had in, we debit the cash A/c and credit score the capital A/c adhering to the hints of real Account and private Account which says” Debit what is available in whereas credit rating the giver. The capital invested inside the commercial business enterprise is a liability to the firm/situation and so it's miles credited.

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