Trial Balance Sums

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Trial balance is a statement which shows debit balances and credit balances of all accounts in the ledger. Since, every debit should have a corresponding credit as per the rules of double entry system, the total of the debit balances and credit balances should tally (agree). In case, there is a difference, one has to check the correctness of the balances brought forward from the respective accounts. Trial balance can be prepared in any date provided accounts are balanced.

“Trial balance is a statement, prepared with the debit and credit balances of ledger accounts to test the arithmetical accuracy of the books” – J.R. Batliboi.

1. The following balances were extracted from the ledger of Rahul on 31st March, 2003. You are requested to prepare a trial balance as on that date in the proper form. Rs. Rs.
Salaries 36,320 Purchases 1,44,670
Sales 1,73,500 Sundry Debtors 1,430
Plant & Machinery 34,300 Travelling Expenses 2,630
Commission Paid 1,880 Carriages Inward 240
Stock on 1.4.2002 11,100 Sundry Creditors 14,260
Repairs 1670 Capital, 1.4.2002 62,500
Sundry Expenses 460 Drawings 3,500
Returns Inward 1,000 Cash at Bank 1,090
Discount Allowed 1,150Returns Outward 400
Rent and Rates 3,220 Investments 6,000


Trial Balance of Rahul as on 31st March, 2003

S.No.| Name of the Account| L.F.| Dr.Rs.| Cr.Rs.| Nature of Balance(Why Dr. or Cr.)|| SalariesSalesPlant and Machinery Commission Paid Stock on 1.4.2002RepairsSundry Expenses Returns Inward Discount Allowed Rent & Rates PurchasesSundry DebtorsTravelling Expenses Carriage Inward Sundry CreditorsCapital 1.4.2002Drawings Cash at Bank Returns Outward Investments| | 36,320–34,3001,88011,1001,6704601,0001,1503,2201,44,6701,4302,630240––3,5001,090–6,000| –1,73,500––––––––––––14,26062,500––400–| Nominal A/c-expenseReal A/c - goods...
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