Question

Prepare the trial balance using the following balances as at 30.09.20xx of Rosals
business
Debtors
80 000
Fixed deposits
158 000
Creditors
60 000
Discount allowed
4 000
Purchases
250 000
Machinery
120 000
Discount received
9 000
Bank overdraft
15 000
Salaries
20 000
Capital as at 01.01.20xx 200 000
Interest income
8 000
Cash
40 000
Sales
380 000

Answer 1

Explanation:

DEBIT:

Debtors = 80,000

Fixed deposits = 1,58,000

Discount allowed = 4 000

Purchases = 250 000

Machinery = 1,20,000

Salaries = 20,000

Cash = 40,000

Total 6,72,000

CREDIT:

Creditors = 60,000

Discount received = 9,000

Bank overdraft = 15,000

Capital as at 01.01.20xx = 2,00,000

Interest income = 8,000

Sales = 3,80,000

Total 6,72,000