Question

Prepare Trial Balance for the following Balances as on 31st March 2021 Balances₹Cost of Goods Sold5,20,000Opening Stock50,000Closing Stock50,000Salary and Wages50,000Sales8,00,000Plant & Machinery2,00,000Drawing50,000Investment4,00,000Creditors1,00,000Capital4,00,000​

Answer 1

Answer:

220000 = two laks twenty thousand

Explanation:

Cost of goods Sold = 5,20,000 - opening Stock 50,000 - Closing Stock = 50,000 - Salary = 50,000 + Sales = 8,00,000 - Plants and Machinery =2,00,000 - Drawing = 50,000 - 4,00,000 + Creditors 1,00,000 - Capital = 4,00,000 = 2, 20,000

Answer 2

Answer:

Explanation:

Debit Side Items:

Purchases          $520,000.00

Closing Stock   $50,000.00

Salaries & Wages   $50,000.00

Plant & Machinary   $200,000.00

Drawing                   $50,000.00

Investment            $430,000.00

total Debit =      $1,300,000.00

Credit Side Items

Sales   $800,000.00

Creditors          $100,000.00

Capital   $400,000.00

total credit = $1,300,000.00