Question No 04 Chapter No 10
04.Following balances were extracted from the books of Ravinder Associates as of 31st March 2017 :
| Name of Accounts | Rs | Name of Accounts | Rs |
| Sundry Debtors | 4,10,000 | Stock (April 1, 2016) | 2,30,0000 |
| Sundry Creditors | 80,000 | Premises | 12,00,000 |
| Rent and Taxes | 48,000 | Fixtures & Fittings | 3,10,000 |
| Purchases | 34,00,000 | Bad Debts are written off | 8,000 |
| Sales | 56,00,000 | Rent received from sub-let of part of premises | 30,000 |
| Trade Expenses | 12,000 | Loan from Mukul | 1,50,000 |
| Returns Outwards | 80,000 | Interest on Mukul’s Loan | 15,000 |
| Returns Inwards | 1,20,000 | Drawings | 40,000 |
| Expenses | 4,000 | Cash in hand | 75,000 |
| Motor Vehicles | 6,50,000 | Stock on 31st March 2017 | 3,80,000 |
| Electricity | 25,000 |
You are required to prepare the trial balance treating the difference as his capital.
The solution of Question No 04 Chapter No 10: –
| Trail Balance A/c | |||
| Particulars |
J.F. | Debit | Credit |
| Sundry Debtors A/c | 4,10,000 | ||
| Sundry Creditors A/c | 80,000 | ||
| Rent & Taxes A/c | 48,000 | ||
| Purchases A/c | 34,00,000 | ||
| Sales A/c | 56,00,000 | ||
| Trade Expenses A/c | 12,000 | ||
| Return Outwards A/c | 80,000 | ||
| Return Inwards A/c | 1,20,000 | ||
| Expenses A/c | 4,000 | ||
| Motor Vehicles A/c | 6,50,000 | ||
| Electricity A/c | 25,000 | ||
| Opening Stock (on April 01, 2004) A/c | 2,30,000 | ||
| Premises A/c | 12,00,000 | ||
| Fixture & Fittings A/c | 3,10,000 | ||
| Bad Debts written off A/c | 8,000 | ||
| Loan from Mukul A/c | 1,50,000 | ||
| Interest on Mukul’s Loan A/c | 15,000 | ||
| Drawings A/c | 40,000 | ||
| Cash in Hand A/c | 75,000 | ||
| Rent received from Sub-let of part of Premises A/c | 30,000 | ||
| Capital (Balancing Figure) A/c | 6,07,000 | ||
| 65,47,000 | 65,47,000 | ||
Note: Closing Stock of Rs 3,80,000 will not appear in Trial Balance, because it has not been accounted yet
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Also, Check out the solved question of previous Chapters: –
- Chapter No. 1 – Introduction to Accounting
- Chapter No. 2 – Basic Accounting Terms
- Chapter No. 3 – Theory Base of Accounting, Accounting Standards and International Financial Reporting Standards(IFRS)
- Chapter No. 4 – Bases of Accounting
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 7 – Origin of Transactions – Source Documents and Preparation of Vouchers
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
- Chapter No. 11 – Special Purpose Books II – Other Books
- Chapter No. 12 – Bank Reconciliation Statement
- Chapter No. 13 – Trial Balance
- Chapter No. 14 – Depreciation
- Chapter No. 15 – Provisions and Reserves
- Chapter No. 16 – Accounting for Bills of Exchange
- Chapter No. 17 – Rectification of Errors
- Chapter No. 18 – Financial Statements of Sole Proprietorship
- Chapter No. 19 – Adjustments in preparation of Financial Statements
- Chapter No. 20 – Accounts from incomplete Records – Single Entry System
- Chapter No. 21 – Computers in Accounting
- Chapter No. 22 – Accounting Software – Tally
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
Check out T.S. Grewal +1 Book 2019 @ Official Website of Sultan Chand Publication
T.S. Grewal’s Double Entry Book Keeping
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