Question

Prepare a Trial Balance from the following items:
₹
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
[Trial Balance Total-747,820.)​

Answer 1

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Answer 2

Given:

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

To Find:

Prepare a Trial Balance from the following items

Solution:

• All incomes are shown on the credit side
• All expenses are shown on the debit side
• Returns inward mean sales return
• Since we record sales on the credit side sales return will be recorded on the debit side
• All types of assets are shown on the debit side

Hence, the trial balance has been prepared and attached below,