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Question No 07 Chapter No 11
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Treatment of Closing stock
7. From the under mentioned balance of Sunil Dutti drawn on 31st March,2019, prepare a trail balance
| Ledger Account | Balance Rs | Ledger Account | Balance Rs |
| Capital | 50,000 | Carriage outward | 925 |
| Closing stock | 10,290 | Import duty | 1,600 |
| Creditors | 6,250 | Export duty | 17,265 |
| Debtors | 10,335 | Wages | 17,265 |
| Fixed assets | 39,500 | Bills receivable | 7,500 |
| Purchases (Adjusted) | 24,465 | Bill payable | 4,000 |
| Sale | 51,300 | Rent received | 1,900 |
| Return inward | 1,200 | Interest paid | 550 |
| Return outward | 615 | Bank overdraft | 5,500 |
| Carriage inward | 400 | Cash in hand | 190 |
| Discount allowed | 380 | Commission received | 435 |
The solution of Question No 07 Chapter No 11: –
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| Trail Balance A/c | |||
| Particulars | J.F. | Debit | Credit |
| Capital | 50,000 | ||
| Closing stock | 10,290 | ||
| Creditors | 6,250 | ||
| Debtors | 10,335 | ||
| Fixed assets | 39,500 | ||
| Purchases (Adjusted) | 28,465 | ||
| Sale | 51,300 | ||
| Return inward | 1,200 | ||
| Return outward | 615 | ||
| Carriage inward | 400 | ||
| Discount allowed | 380 | ||
| Carriage outward | 925 | ||
| Import duty | 1,600 | ||
| Export duty | 1,400 | ||
| Wages | 17,265 | ||
| Bills receivable | 7,500 | ||
| Bill payable | 4,000 | ||
| Rent received | 1,900 | ||
| Interest paid | 550 | ||
| Bank overdraft | 5,500 | ||
| Cash in hand | 190 | ||
| Commission received | 435 | ||
| 1,20,000 | 1,20,000 | ||
To understand more about cash book please check out following links: –
Trial Balance | Explanation | Methods | Examples
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Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
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Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
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Chapter No. 12 – Bank Reconciliation Statement
Chapter No. 14 – Provisions and Reserves
Chapter No. 15 – Bills of Exchange
Chapter No. 16 – Rectification of Errors
Chapter No. 17 – Financial Statements – (Without Adjustments)
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Chapter No. 18 – Financial Statements – (With Adjustments)
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