Question

Total and balancing fig

Answer 1

Answer:

Take all the liabilities at the debit side and assets at the credit side.

Liabilities are

• capital
• creditors
• returns outward
• bills payable
• purchases
• stock on 1.4.2012
• drawings
• discount allowed
• salaries
• trade expenses
• bank overdraft
• rent paid

Post the remaining items at the credit side.

Both debit and credit side must tally.

Hope this helps you

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