Question 6.
From the following information, prepare a Trial Balance of M/s. Prayag for the year ended 31st March, 2018:
Answers
Trial Balance as at 31/3/2018
Explanation:
Trial Balance
as at 31/3/2018
Particulars Debit(Rs.) Credit(Rs.)
Capital 125000
Furniture and Fixtures 6400
Car 62500
Buildings 75000
Debtors 38000
Creditors 25000
Bad Debts 1250
Purchases 54750
Purchase returns 1250
Sales 154500
Sales Returns 2000
Bank 28500
Commission 3750
Interest 1180
Input IGST 3000
Input IGST 1500
Output SGST 1500
Advertisement 2500
Salaries 40820
Cash 6500
Insurance and Taxes 12500
Total 307900 339500
Notes: 1) The reason for the non-matching of trial balance(Credit side greater than debit side) can be one of the following:
- Corrupted Transactions
- Mistake in posting journal into ledgers
- Miscalculating the ledger account totals.
Explanation:
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