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



Refer the data given below −

Name of account Amount (in rupees) Name of account Amount (in rupees)

Balances Total(credit)
Total(debit)


Cash in hand 10000 20000 10000 Supplies 3000
Accounts receivable 17500

Revenue fee 20000
Accounts payable 1000 2000 1000 Note payable 5000
Revenue (unearned) 800

Common stock 7000
Furniture and fitting 3500

Machinery 4000

Solution

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


      
Title
DD/MM/YYYY
Sl.No Particulars Ledger folio Totals Balances
debit Credit debit Credit
1 Cash
20000 11000 9000
2 Supplies
3000
3000
3 Accounts receivable
8000
8000
4 Revenue (Fee)

10000
10000
5 Account payable
5000 15000
10000
6 Note payable

2500
2500
7 Revenue (unearned)

1000
1000
8 Common stock

3500
3500
9 Furniture and fitting
3000
3000
10 Machinery
4000
4000
Total 43000 43000 27000 27000


Updated on: 2021-07-12T11:23:16+05:30

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