Prepare trial balance using total and balance method for the given data

Banking & FinanceFinance ManagementGrowth & Empowerment

Refer the data given below −

Name of accountAmount (in rupees)Name of accountAmount (in rupees)

BalancesTotal(credit)
Total(debit)


Cash in hand100002000010000Supplies3000
Accounts receivable17500

Revenue fee20000
Accounts payable100020001000Note payable5000
Revenue (unearned)800

Common stock7000
Furniture and fitting3500

Machinery4000

Solution

The trial balance prepared by using total and balance method is given below -


      
Title
DD/MM/YYYY
Sl.NoParticularsLedger folioTotalsBalances
debitCreditdebitCredit
1Cash
20000110009000
2Supplies
3000
3000
3Accounts receivable
8000
8000
4Revenue (Fee)

10000
10000
5Account payable
500015000
10000
6Note payable

2500
2500
7Revenue (unearned)

1000
1000
8Common stock

3500
3500
9Furniture and fitting
3000
3000
10Machinery
4000
4000
Total43000430002700027000


raja
Published on 12-Jul-2021 11:11:22
Advertisements