Test Your Understanding -
Indicate against each amount wheather it is a debit or a credit balance, and prepare
a trial balance as at March 31. 2009 based on the following balances:
Accounts Title
Amount
Rs.
Capital
1.00.000
Drawings
16.000
Machinery
20.000
Sales
2.00.000
Purchases
2,10.000
Sales return
20.000
Purchases return
30.000
Wages
40.000
Goodwill
60.000
Interest received
15.000
Discount allowed
6.000
Bank overdraft
22.000
Bank loan
90.000
Debtors:
Nathu
55.000
Roopa
20.000
Creditors
Reena
35.000
Ganesh
25.000
Cash
54.000
Stock on April 01, 2008
16.000
Answers
Answer:
capital = credit
drawings = debit
machinery= debit
sales= credit
purchases= debit
sales return = debit
purchase return= credit
wages= debit
goodwill= debit
interest received= credit
discount allowed= debit
bank overdraft= credit
bank loan = credit
debtors = debit
creditors = credit
cash = debit
stock = debit
final answer total 517000
classify all transactions according to Dr.. n cr.. in ur trail balance you will get correct answer... hope it helps you
I'm new pls like if my answer is right
Answer :
Total : 5,17,000
1st pic is the answer, whereas others are a format for your information...
Explaination :
Last two pic are the format.. 2nd pic is the questions & 3rd pic is its position( means its in debit side or credit side) .
eg. capital( look at 2nd pic) , its in credit side(look at 3rd pic).
I hope this helps...
Thank you
❣ Tanix ❣
