Question No 08 Chapter No 10

Question No 08 Chapter No 10

08. The following is the Trial Balance prepared by an inexperienced accountant. Redraft it in the correct form and give the necessary notes: −

Cash in Hand5,200Bank Overdraft16,400
Plant & Machinery75,000Capita50,000
Stock (1-4-2016) 13,100Sundry Creditors8,200
Carriage Inwards2,800Return Inwards2,400
Carriage Outwards1,600Drawings2,120
Sundry Debtors18,300Investments 4,000
Bills Payable12,000  
Rent Paid9,600  
Discount Received3,200  
 2,52,300 2,52,300

The solution of Question No 07 Chapter No 10: –

Trail Balance A/c
Cash in Hand A/c 5,200 
Plant & Machinery A/c 75,000 
Typewriter A/c 6,400 
Stock (1-4-2003) A/c 13,100 
Purchases A/c 84,100 
Carriage Inwards A/c 2,800 
Carriage Outwards A/c 1,600 
Sundry Debtors A/c 18,300 
Bills Payable A/c  12,000
Rent Paid A/c 9,600 
Wages A/c 16,500 
Advertisement A/c 4,500 
Discount Received A/c  3,200
Bank Overdraft A/c  16,400
Capital A/c  50,000
Goodwill A/c 8,000 
Sundry Creditors A/c  8,200
Sales A/c  1,60,000
Return Inwards A/c 2,400 
Drawings A/c 2,120 
Investment A/c 4,000 
Suspense A/c (Balancing Figure)  3,820

Note: Since, the Trial Balance does not tally, thus, the difference of Rs 3,820 is transferred to the Credit Balance Column of Trial Balance.

What is Ledger in accounting – explain its Types

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