Page 96 - ISCDEBK-XI

Trial Balance 13.13

Unsolved Question

1. The following Trial Balance of Mr. Pradeep Chamoli was drafted by his Accountant. But due to imperfect
knowledge of the subject, it was prepared incorrectly. You are asked to redraft it.
TRIAL BALANCE
for the year ended 31st March, 2022
Heads of Accounts Dr. (`) Cr. (`)
Opening Stock ............................................................................................................................................................... 49,770 ...
Closing Stock ................................................................................................................................................................. ... 61,740
Capital............................................................................................................................................................................... ... 3,00,000
Fixed Assets .................................................................................................................................................................... 2,37,000 ...
Sundry Creditors ........................................................................................................................................................... ... 37,500
Sundry Debtors ............................................................................................................................................................. 62,010 ...
Returns Inward .............................................................................................................................................................. 7,200 ...
Sales .................................................................................................................................................................................. ... 3,07,800
Purchases ........................................................................................................................................................................ 1,82,760 ...
Discount Allowed ......................................................................................................................................................... ... 2,280
Taxes .................................................................................................................................................................................. 21,390 ...
Commission Received................................................................................................................................................. ... 2,610
Cash in Hand .................................................................................................................................................................. 1,140 ...
Bank Overdraft .............................................................................................................................................................. 33,000 ...
Interest Paid .................................................................................................................................................................... ... 3,300
Rent Received ................................................................................................................................................................ 11,400 ...
Bills Payables .................................................................................................................................................................. ... 24,000
Wages and Salaries ...................................................................................................................................................... 94,200 ...
Bills Receivables ............................................................................................................................................................ 45,000 ...
Export Duty .................................................................................................................................................................... ... 2,400
Returns Outward .......................................................................................................................................................... ... 3,690
Carriage Inwards ........................................................................................................................................................... 2,400 ...
Import Duty .................................................................................................................................................................... 3,600 ...
Carriage Outwards .................................................................................................................................................... ... 5,550
Total 7,50,870 7,50,870

GUIDE TO ANSWER

1. Correct Total of Trial Balance—` 7,20,000.