Question

Prepare a trial balance from the following particulars as on 31-03-2020:-

Capital ₹ 25,000

Bills Payable ₹ 1,850

Bills Receivable ₹ 4,400

Stock on1.4.2019 ₹ 8,500

Furniture ₹ 2,600,

Purchases ₹ 8,950,

Sales ₹ 22,500

Discount Received ₹ 970

Carriage ₹ 300

Cash at Bank ₹ 25,570​

Answer 1

first and for most thing u should remember is all assets and expenses will have debit balance and all liability and income will have credit balance

1 capital is a liability so it has credit balance

2 bills payable is a liability so it also has credit balance only

3 bills receivable is a asset so it has debit balance

4 stock on 1.4.2019 stock is an asset so it should be debited it has debit balance

5 furniture is an asset so it has debit balance

6 purchase is an expense so it has debit balance

7 sales is an income so it has credit balance

8 discount received is an income so it should be credit it has credit balance

9 carriage is an expense it has debit balance

10 cash at bank is asset so it has debit balance

Explanation:

just draw the formet of the trial balance and apply the name of the account in the particular space and enter the amount in the debit or credit

hope this will help you any doubt kindly ask me ☺️

thank you