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Financial Accounting-I
Notes 10.8 Review Questions
1. From the following ledger accounts of Mr. S, draw Trail Balance as on 31st December
2004.
`
House Property 45,000
Repairs 1,200
Furniture 5,000
Rent Received 4,800
Utensils 6,000
Medical Expenses 1,200
Ornaments 25,000
School Free 1,800
Cash 630
Conveyance 1,350
Cosmetics 1,150
Interest Received 3,000
Bank Balance:
Fixed Deposits 20,000
Savings Bank 3,500
House Building Loan from Govt. 20,000
Shares & Govt. Securities 12,000
Interest paid 1,870
Claims against persons 1,500
Municipal Taxes 3,000
Salary (Income) 24,000
Income-tax 2,500
Servants wages 1,200
Accumulated Fund 88,300
Food and Drink 3,750
Dress and Clothing’s 2,450
2. The following Trail Balance was extracted from the books of a Merchant, although the
columns are agreed, yet they are incorrect. You are required to correct and redraft it.
Dr. Cr.
Premises 30,000 Capital 36,800
Machinery 8,500 Fixture 2,800
Bad Debts 1,400 Sales 52,000
Contd....
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