Question No 12 Chapter No 11
Correct of an Incorrect Trial balance
12. From the following trial balance (containing obvious errors) of Nirvair Singh, prepare a correct trial balance as on March31,2018:
| Ledger Account | Dr. Balance | Cr. Balance |
| Purchases | 60,000 | |
| Resave fund | 20,000 | |
| sales | 1,00,000 | |
| Purchases return | 1,000 | |
| Sales return | 2,000 | |
| Opening stock | 300,000 | |
| Closing stock | 40,000 | |
| Expenses | 20,000 | |
| Outstanding expanse | 2,000 | |
| Bank balance | 5,000 | |
| Assets | 50,000 | |
| Debtors | 80,000 | |
| Creditor | 300,000 | |
| Capital | 94,000 | |
| Suspenses account (difference in book ) | 10,000 | |
| 55,230 | 55,230 |
Closing Sock Rs 40,000
The solution of Question No 12 Chapter No 11: –
| Trail Balance A/c | |||
| Particulars |
J.F. | Debit | Credit |
| Purchases | 50,000 | ||
| Resave fund | 19,000 | ||
| Sales | 1,10,000 | ||
| Purchases return | 1,000 | ||
| Sales return | 2,000 | ||
| Opening stock | 40,000 | ||
| Expenses | 20,000 | ||
| Outstanding expenses | 2,000 | ||
| Bank | 7,000 | ||
| Assets | 48,000 | ||
| Debtors | 80,000 | ||
| Creditors | 20,000 | ||
| Capital | 95,000 | ||
| 2,47,000 | 2,47,000 | ||
Trial Balance | Explanation | Methods | Examples
Thanks, Please Like and share with your friends
Comment if you have any question.
Also, Check out the solved question of all Chapters: –
Advertisement-X
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
Chapter No. 6 – Accounting for Goods and Services Tax(GST)
Chapter No. 9 – Other Subsidiary Books
Chapter No. 10 – Journal Proper
Advertisement-X
Chapter No. 11 – Trial Balance
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)