Page 98 - DEBK-XI(2020)

Trial Balance 13.11

TRIAL BALANCE as on 31st March, 2018
Heads of Accounts L.F. Dr. Balance Cr. Balance
` `
Capital A/c ......................................................................................................................... ... 22,000
Drawings A/c ....................................................................................................................... 1,300 ...
Purchases A/c ..................................................................................................................... 35,100 ...
Sundry Expenses A/c .......................................................................................................... 2,410 ...
Sales A/c .......................................................................................................................... ... 59,400
Returns Inward A/c .............................................................................................................. 600 ...
Ramesh ............................................................................................................................... 23,070 ...
Rahul ................................................................................................................................... ... 13,312
Cash and Bank A/c .............................................................................................................. 33,640 ...
Returns Outward A/c ........................................................................................................... ... 400
Output CGST A/c ................................................................................................................. ... 120
Output SGST A/c ................................................................................................................. ... 120
Output IGST ........................................................................................................................ ... 1,680
Input CGST A/c ................................................................................................................... 456 ...
Input SGST A/c .................................................................................................................... 456 ...
Total 97,032 97,032

5. From the following Trial Balance (containing errors), prepare a correct Trial Balance:
Heads of Accounts Dr. (`) Cr. (`)
Purchases (Not Adjusted) ............................................................................................................. 60,000 ...
Reserve .................................................................................................................................. 20,000 ...
Sales .................................................................................................................................. ... 1,00,000
Purchases Return ......................................................................................................................... 1,000 ...
Sales Return ................................................................................................................................. ... 2,000
Opening Stock .............................................................................................................................. 30,000 ...
Closing Stock ................................................................................................................................ ... 40,000
Expenses .................................................................................................................................. ... 20,000
Outstanding Expenses ................................................................................................................. 2,000 ...
Bank Balance ............................................................................................................................... 5,000 ...
Fixed Assets ................................................................................................................................. 50,000 ...
Creditors .................................................................................................................................. ... 30,000
Debtors .................................................................................................................................. ... 80,000
Capital .................................................................................................................................. 94,000 ...
Suspense A/c ............................................................................................................................... 10,000 ...
Total 2,72,000 2,72,000
Solution: TRIAL BALANCE as at ...
Heads of Accounts L.F. Dr. (`) Cr. (`)
Purchases (Adjusted) ............................................................................................................ 50,000 ...
Reserve ........................................................................................................................... ... 20,000
Sales ........................................................................................................................... ... 1,00,000
Purchases Return .................................................................................................................. ... 1,000
Sales Return .......................................................................................................................... 2,000 ...
Closing Stock ......................................................................................................................... 40,000 ...
Expenses ........................................................................................................................... 20,000 ...
Outstanding Expenses .......................................................................................................... ... 2,000
Bank Balance ........................................................................................................................ 5,000 ...
Fixed Assets .......................................................................................................................... 50,000 ...
Creditors ........................................................................................................................... ... 30,000
Debtors ........................................................................................................................... 80,000 ...
Capital ........................................................................................................................... ... 94,000
Total 2,47,000 2,47,000
Note: Adjusted Purchases = Opening Stock + Purchases – Closing Stock
= ` 30,000 + ` 60,000 – ` 40,000 = ` 50,000.