3. (a) From the following balances on 31st March, 2021 prepare a Trial Balance : * 40,000 Fixed assets * 5,000 Cash 11,000 Salary Escorts Co. Ltd. 10,000 (credit) Sales 25,000 Creditors 12,000 Debtors * 10,000 Kotak Bank loan 18,000 Purchase * 25,000 Bank 10,000 Salary outstanding 1,000 Interest earned * 1,000​

question img

Answers 2

Dr.
  • Assets
  • Expenses
Cr.
  • Income
  • Outstanding Expenses

answer img

                                         TRIAL BALANCE

                                          31st March , 2021

S.N       Particulars              L.F No.     Debit amount (₹)    Credit amount (₹)

1           Fixed asset                                ₹ 40,000  

2.         Salary                                          ₹ 5,000

3.         Cash                                            ₹ 11,000      

4.         Salary Escorts Co. Ltd.                                                ₹ 10,000

5.         Sales                                                                          ₹ 25,000

6.         Creditors                                                                    ₹ 12,000

7.          Debtors                                       ₹ 10,000

8.         Kotak Bank Loan                                                         ₹ 18,000

9.         Purchase                                      ₹ 25,000          

10.        Bank                                             ₹ 10,000  

11.         Salary outstanding                                                       ₹ 1,000

12.        Interest earned                                                             ₹ 1,000

13.        Suspense account                                                        ₹ 34,000

           Total                                              ₹ 10,1000                ₹ 10,1000

The trial balance doesn't balance, hence, we should open a suspense account and put the amount on the credit side since the amount on the debit side was too high.

If you know the answer add it here!

Can't find the answer?

Log in with Google

or

Forgot your password?

I don't have an account, and I want to Register

Choose a language and a region
How much to ban the user?
1 hour 1 day 100 years