Prepare horizontal balance sheet for the following trial balance.

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

Published on 13-Aug-2020 14:00:14