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Question No 08 Chapter No 11
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Treatment of Closing stock
8. From the following , prepare trial balance as on March,31,2018
| Ledger Account | Balance Rs | Ledger Account | Balance Rs |
| Coat of goods sold | 1,50,000 | Opening stock | 60,000 |
| Closing stock | 40,000 | Salaries | 15,000 |
| Debtors | 60,000 | Office expenses | 5,000 |
| Creditors | 30,000 | Sales | 2,00,000 |
| Fixed assets | 50,000 | Capital | 90,000 |
The solution of Question No 08 Chapter No 11: –
| Trail Balance A/c | |||
| Particulars | J.F. | Debit | Credit |
| Coat of goods sold | 1,50,000 | ||
| Closing stock | 40,000 | ||
| Debtors | 60,000 | ||
| Creditor | 30,000 | ||
| Fixed assets | 50,000 | ||
| Office expenses | 20,000 | ||
| Sale | 2,00,000 | ||
| Capital | 90000 | ||
| 3,20,000 | 3,20,000 | ||
(i) Opening stock is already adjusted in cost of goods sold .Hence, not taken in Trial balance.
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(ii) Closing stock is taken in trial balance when adjusted purchases or cost of goods sod is given
Trial Balance | Explanation | Methods | Examples
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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Chapter No. 2 – Theory Base of Accounting
Chapter No. 3 – Origin of Transactions
Chapter No. 4 – Vouchers and transactions
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
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Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Chapter No. 11 – Trial Balance
Chapter No. 12 – Bank Reconciliation Statement
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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)