prepare trial balance from the following particulars as on 31/03/2020 capital-25000 bill receivable-1850 stock(1/4/2019)-8500 furniture-2600 purchases-8950 sales-22500 discount received- 970 carriage-300 cash of bank- 25570
Answers
Answer:
All debit items=
Bills receivables 1850+ stock 8500+ furniture 2600+ Purchases 8950 + discount received 970+ cash and bank 25570 =48,440
All Credit items=
capital 25,000+ Sales 22500+ carriage 300
= 47,800
Trial balance is not tallied ..
Answer:
The correct answer is trial balance.
Explanation:
A trial balance is defined as "the concept in which a statement that is given is in credits and debits which is in a double entry account book, when it is disagreed it will indicate an error".
Given:
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 on 1/4/2019 ₹ 8,500
Furniture ₹ 2,600,
Purchases ₹ 8,950,
Sales ₹ 22,500
Discount Received ₹ 970
Carriage ₹ 300
Cash at Bank ₹ 25,570
Solution:
A trial balance consists of three columns. They are particulars , Debit and Credits.
Particulars debit credit
Capital 25000
Bills payable 1850
Bills recievable 4400
Stocks on 1/4/2019 8500
Furniture 2600
Purchases 8950
Sales 22500
Discount received 970
Carriage 300
Cash at Bank 25570
Total 50320 50320
From the above calculation, we calculated all the expenses.
We must also see that the debit value and credit value should be same for knowing the trial balance.
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