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Explain trial balance with an example
Refer the following data to prepare the trial balance −
Books of accounts
| Particulars | Amount (in rupees) | Particulars | Amount (in rupees) | Particulars | Amount (in rupees) |
|---|---|---|---|---|---|
| Cash in hand | 6000 | Sales | 257000 | Rent | 2500 |
| Cash at bank | 300000 | Purchases | 50000 | Drawings | 18000 |
| Sundry debtors | 25000 | Carriage inwards | 2500 | Stock | 12000 |
| Sundry creditors | 18000 | Salaries | 20000 | Capital A/c | 190000 |
| Bills receivables | 28000 | Marketing expenses | 3000 | Furniture's and fixtures | 6500 |
| Bills payable | 10000 | Insurance paid | 1500 |
Solution
The trial balance is given below −
| XYZ ltd 31/03/2009 | ||||||
|---|---|---|---|---|---|---|
| Sl.No | Account Title | Balance | ||||
| debit | Credit | |||||
| 1 | Cash in hand | 6000 | ||||
| 2 | Cash at bank | 300000 | ||||
| 3 | Sundry debtors | 25000 | ||||
| 4 | Sundry creditors | 18000 | ||||
| 5 | Bills receivables | 28000 | ||||
| 6 | Bills payable | 10000 | ||||
| 7 | Capital Ac | 190000 | ||||
| 8 | Drawings | 18000 | ||||
| 9 | Sales | 257000 | ||||
| 10 | Purchases | 50000 | ||||
| 11 | Carriage inwards | 2500 | ||||
| 12 | Salaries | 20000 | ||||
| 13 | Marketing expenses | 3000 | ||||
| 14 | Insurance paid | 1500 | ||||
| 15 | Furniture's and fixtures | 6500 | ||||
| 16 | Stock | 12000 | ||||
| 17 | Rent | 2500 | ||||
| Total | 475000 | 475000 | ||||
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