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
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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