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Trial Balance 14.11

TRIAL BALANCE as on 31st March, 2024
Heads of Accounts L.F. Dr. Balance Cr. Balance
` `
Capital A/c ..................................................................................................................................................... ... 22,000
Drawings A/c .................................................................................................................................................. 1,300 ...
Purchases A/c ................................................................................................................................................. 35,100 ...
Sundry Expenses A/c ................................................................................................................................... 2,410 ...
Sales A/c ......................................................................................................................................................... 59,400
Returns Inward A/c ...................................................................................................................................... 600 ...
Ramesh ............................................................................................................................................................ 23,070 ...
Rahul ................................................................................................................................................................. ... 13,312
Cash and Bank A/c ....................................................................................................................................... 33,640 ...
Returns Outward A/c .................................................................................................................................. ... 400
Output CGST A/c........................................................................................................................................... ... 120
Output SGST A/c ........................................................................................................................................... ... 120
Output IGST .................................................................................................................................................... ... 1,680
Input CGST A/c .............................................................................................................................................. 456 ...
Input SGST A/c............................................................................................................................................... 456 ...
Total 97,032 97,032

5. From the following Trial Balance (containing errors), prepare a correct Trial Balance:
Heads of Accounts Dr. (`) Cr. (`)
Purchases (Not Adjusted) ..................................................................................................................................... 60,000 ...
Reserve ................................................................................................................................................................ 20,000 ...
Sales ................................................................................................................................................................ ... 1,00,000
Purchases Return ..................................................................................................................................................... 1,000 ...
Sales Return ............................................................................................................................................................... ... 2,000
Opening Stock .......................................................................................................................................................... 30,000 ...
Closing Stock ............................................................................................................................................................ ... 40,000
Expenses ................................................................................................................................................................ ... 20,000
Outstanding Expenses .......................................................................................................................................... 2,000 ...
Bank Balance ............................................................................................................................................................. 5,000 ...
Fixed Assets ............................................................................................................................................................... 50,000 ...
Creditors ................................................................................................................................................................ ... 30,000
Debtors ................................................................................................................................................................ ... 80,000
Capital ................................................................................................................................................................ 94,000 ...
Suspense A/c ............................................................................................................................................................. 10,000 ...
Total 2,72,000 2,72,000
Solution: TRIAL BALANCE as at ...
Heads of Accounts L.F. Dr. (`) Cr. (`)
Purchases (Adjusted) ..................................................................................................................................... 50,000 ...
Reserve ....................................................................................................................................................... ... 20,000
Sales ....................................................................................................................................................... ... 1,00,000
Purchases Return ............................................................................................................................................ ... 1,000
Sales Return ...................................................................................................................................................... 2,000 ...
Closing Stock ................................................................................................................................................... 40,000 ...
Expenses ....................................................................................................................................................... 20,000 ...
Outstanding Expenses ................................................................................................................................. ... 2,000
Bank Balance .................................................................................................................................................... 5,000 ...
Fixed Assets ...................................................................................................................................................... 50,000 ...
Creditors ....................................................................................................................................................... ... 30,000
Debtors ....................................................................................................................................................... 80,000 ...
Capital ....................................................................................................................................................... ... 94,000
Total 2,47,000 2,47,000
Note: Adjusted Purchases = Opening Stock + Purchases – Closing Stock
= ` 30,000 + ` 60,000 – ` 40,000 = ` 50,000.