Question

Trial balance entry :- cost of good sold 150000​

Answer 1

Answer:

Opening stock 60,000

Cost of goods sold 3,00,000

Debtors 40,000

Creditors 20,000

Fixed assets 50,000

B/R 20,000

B/p 10,000

Office expenses 20,000

Sales 2,00,000

Capital 90,000

Closing stock 40,000

Explanation:

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Answer 2

heya!!ur answer is this ⤵️

COGS = Opening Stock + Purchases - Closing Stock. We can call COGS adjusted purchases also. Hence in Trial Balance only COGS and closing stock are taken. Debit side of Trial Balance exceeds credit side by Rs.150000. Since the purchases and expenses far exceeds the total of sales and creditors, this could only be financed by bank overdraft since no information relating to cash and bank account is given.

Trial Balance

Dr. Cr.

Debtors 40000 Creditors 20000

Fixed Assets 50000

B/R 20000 B/P 10000

Office Expenses 20000 Sales 200000

COGS 300000 Capital 90000

Stock 40000 Bank Overdraft 150000

Total 470000 Total 470000

If you prepare Trading & Profit and Loss A/c from above Trial Balance, you will get a net loss of Rs.1,20,000 and this will make the dapital -30000. If with these figures you prepare balance sheet capital will come on the asset side and total of both sides of balance sheet will be Rs.1,80,000,

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