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Prepare horizontal balance sheet for the following trial balance.
Dr. ($) | Cr. ($) | |
---|---|---|
Premises | 26000 | |
Furniture | 14000 | |
Vehicles | 7000 | |
Inventory | 3000 | |
Bank | 5300 | |
Capital | 45000 | |
Loan from bank | 8000 | |
Trade receivables | 1500 | |
Trades payables | 2800 | |
Net profit | 10000 | |
Drawings | 9000 | |
65800 | 65800 |
Solution
The solution is given below −
Balance sheet of a company As on 31st March XXXX | |||||
---|---|---|---|---|---|
Non-current assets | $ | $ | Liabilities and capital | $ | $ |
Premises | 26000 | Capital | 45000 | ||
Furniture | 14000 | Net profit | 10000 | ||
Vehicles | 7000 | 55000 | |||
47000 | Drawings | (9000) | 46000 | ||
Current assets | Non-current liabilities | ||||
Inventory | 3000 | Loan from bank | 8000 | ||
Trade receivables | 1500 | ||||
Bank | 5300 | Current liabilities | |||
9800 | Trade payables | 2800 | |||
56800 | 56800 |
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