Prepare trial balance by using totals method for the given data



Refer the data given below −

Name of account Amount (in rupees) Name of account Amount (in rupees)
Cash (debit) 25000 Supplies 1600
Accounts receivable 7000 Revenue fee 15500
Accounts payable (debit) 5600 Note payable 8200
Revenue (unearned) 4400 Common stock 10500
Furniture and fitting 3500 Machinery 6000
Cash (Credit) 6500 Account payable (credit) 3600

Solution

Given below is the trial balance by using totals method −

      
ABC ltd
28/02/2001
Sl.No Name of Account Ledger folio Balance
debit Credit
1 Cash
25000 6500
2 Supplies
1600
3 Accounts receivables
7000
4 Revenue (Fee)

15500
5 Account payable
5600 3600
6 Note payable

8200
7 Unearned revenue

4400
8 Common stock

10500
9 Furniture and fitting
3500
10 Machinery
6000
Total 48700 48700


Updated on: 2021-07-12T11:03:44+05:30

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