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CBSE Class 11-commerce Answered

Prepare trail balance from the following information:- Bank overdraft Rs-28000 Sundry Expenses Rs-24000 Sales Return Rs-16000 Salaries Rs-16000 Purchase Rs-56000 Sales Rs-88000 Creditors Rs-24000 Debtors Rs- 16000 Stock (opening) Rs-20000 Machinery Rs-40000 Capital Rs-44000  
Asked by smartyboy9868030770 | 14 Mar, 2019, 07:48: PM
answered-by-expert Expert Answer
From the information provided, following are the debit and credit items in the Trial Balance:
Partticulars Debit Credit
Bank Overdraft   28000
Sundry Expenses 24000  
Sales Return 16000  
Salaries 16000  
Purchases 56000  
Sales   88000
Creditors   24000
Debtors 16000  
Opening Stock 20000  
Machinery 40000  
Capital   44000
Suspense   4000
Total 188000 188000
Since, the total of debit and credit balances do not match, there is a possibility that a credit item of 4000 is missing. As of now, the difference is showsn as Suspense Account to match the totals of debit and credit balances.  
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