Page 130 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes Illustration 3: Mr. Akshey Kumar furnishes the following balances as on 31st March, 2008. You
have to prepare a Trial Balance with the following information:

Particulars ( ) Particulars ( )
Interest on Capital 24,000 Salaries 1,28,000
Creditors 6,00,000 Capital 8,00,000
Discount Received 23,000 Drawings 2,46,000
Loan 1,74,000 Machinery 3,00,000
Purchase Returns 40,000 Bills Payable 20,000
Sales Return 6,000 Furniture 6,00,000
Advertisement 1,63,000 Debtors 5,00,000
Commission Received 20,000 Bank Loan 2,00,000
Rent 10,000 Patents 60,000
Purchases 19,00,000
Sales 32,60,000
Opening Stock 12,00,000

Solution:
Trial Balance
(as on 31st March, 2008)

Particulars Amount (Dr.) Amount (Cr.)
( ) ( )
Interest on Capital 24,000 –
Creditors – 6,00,000
Discount Received – 23,000
Loan – 1,74,000
Purchase Returns – 40,000
Sale Returns 6,000 –
Advertisement 1,63,000 –
Commission Received – 20,000
Rent 10,000 –
Purchases 19,00,000 –
Sales – 32,60,000
Opening Stock 12,00,000 –
Salaries 1,28,000 –
Capital – 8,00,000
Drawings 2,46,000 –
Machinery 3,00,000 –
Bills Payable – 20,000
Furniture 6,00,000 –
Debtors 5,00,000 –
Bank Loan – 2 00 000
Patents 60,000 –
Total 51,37,000 51,37,000

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