Prepare trial balance by using totals method for the given data

Banking & FinanceFinance ManagementGrowth & Empowerment

Refer the data given below −

Name of accountAmount (in rupees)Name of accountAmount (in rupees)
Cash (debit)25000Supplies1600
Accounts receivable7000Revenue fee15500
Accounts payable (debit)5600Note payable8200
Revenue (unearned)4400Common stock10500
Furniture and fitting3500Machinery6000
Cash (Credit)6500Account payable (credit)3600

Solution

Given below is the trial balance by using totals method −

      
ABC ltd
28/02/2001
Sl.NoName of AccountLedger folioBalance
debitCredit
1Cash
250006500
2Supplies
1600
3Accounts receivables
7000
4Revenue (Fee)

15500
5Account payable
56003600
6Note payable

8200
7Unearned revenue

4400
8Common stock

10500
9Furniture and fitting
3500
10Machinery
6000
Total4870048700


raja
Published on 12-Jul-2021 10:59:17
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