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    Trial Balance

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    shadkhan5678t

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    © All Rights Reserved
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    Trial Balance

    Uploaded by

    shadkhan5678t
    15 views8 pages

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    © © All Rights Reserved

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    Copyright:

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    15 views8 pages

    Trial Balance

    Uploaded by

    shadkhan5678t

    Copyright:

    © All Rights Reserved
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    of 8

    TRIAL BALANCE

    CLASS 11
    ACCOUNTS
    NOTES
    TRIAL BALANCE

    It is the statement, prepare using the balances of ledger account


    to test the arithmetical accuracy of the books.
    It is a list of balances of ledger account and cash book.
    The balance of ledger account is the difference between the
    total of the debit and credit side.

    If Debit Credit Debit Balance


    If Debit Credit Credit Balance

    Dr. Cr.
    Date Particular Rs Date Particular Rs

    To Ram 8000 By Shyam 3000


    By bal C/d 5000

    8000 8000

    Debit Balance
    As per Double Entry System,
    Every Debit Has an equal credit
    Therefore the total of Debit balance in different accounts in the
    ledger must be equal to the total of credit balance in different
    accounts. ie.. the total of both the side of trial balance should
    match.

    JOIN OUR YOUTUBE COMMUNITY

    ECONOMICS ON YOUR TIPS COMMERCE CHAMPIONS ACCOUNTS ADDA

    CLASS1111ACCOUNTS
    CLASS ACCOUNTS
    NOTES
    TRIAL BALANCE

    Note Matching of both sides of trial balance does not necessary


    means 0% error.
    It only ensures arithmetical correctness of posting of entries from
    journal to ledger

    Trial balance is not a part of double entry system.


    it is only a working paper.

    Prepration / Format of trial balance


    Date
    Trial Balance As on ......

    Heads Of Account lf Debit credit

    Ledger A/c Having Debit


    Balance Will Pasted Here
    Ledger A/c Will Credit
    Balance Will Be posted here

    JOIN OUR YOUTUBE COMMUNITY

    ECONOMICS ON YOUR TIPS COMMERCE CHAMPIONS ACCOUNTS ADDA

    CLASS1111ACCOUNTS
    CLASS ACCOUNTS
    NOTES
    TRIAL BALANCE

    General Balances

    Debit Balance Assets, Drawing, Expenses, Loses Debtor

    Credit Balance Liabilities, Capital, Income, Gain Creditors, Bills


    Payable

    Return Outward Purchase return Credit Balance

    Return Inward Sales return Debit Balance

    Input GST Debit Balance


    ( CGST, SGST, IGST )

    Output GST
    Credit Balance
    ( CGST, SGST, IGST )

    Note
    If closing Stock Appeared In trial Balance It will be on debited side
    It is assumed that It has already been adjusted for purchase
    In such case, It will be shown only in asset side of Balance sheet

    JOIN OUR YOUTUBE COMMUNITY

    ECONOMICS ON YOUR TIPS COMMERCE CHAMPIONS ACCOUNTS ADDA

    CLASS1111ACCOUNTS
    CLASS ACCOUNTS
    NOTES
    TRIAL BALANCE

    Illustarion 1

    Prepare a Trial Balance as on 31st March, 2018 from the following


    Ledger balances of Subrata Mukherjee:

    Fixed Assets A/c. 2,46,000


    Capital A/c 2,50,000
    Debtors A/c. 20,000
    Creditors A/c 22,000
    Purchases A/c 35,000
    Sales A/c 53,000
    Returns Outward A/c. 500
    Returns Inward A/c 1,000
    Bills Payable A/c 4,000
    Bills Receivable A/c 8,000
    Bank Overdraft A/c 6,000
    Opening Stock A/c 7,500
    Wages A/c 6,000
    Salaries A/c 9,000
    Rent A/c 3,000

    JOIN OUR YOUTUBE COMMUNITY


    RECTIFICATION OF ERRORS (ACCOUNTS)

    ECONOMICS ON YOUR TIPS COMMERCE CHAMPIONS ACCOUNTS ADDA

    CLASS1111ACCOUNTS
    CLASS ACCOUNTS
    NOTES
    TRIAL BALANCE

    Illustarion 2
    The Accountant of Shiv wrongly prepared the following Trial Balance.
    You are required to draw the correct Trial Balance stating reasons for
    the change made

    Debit Balance Rs Credit Balance Rs

    Opening Stock 16000 Sales 190000


    Purchase 160000 Insurance premium 6000
    Salaries 21000 equipment 25000
    Outstanding Salaries 14000 Repairs to Building 5000
    Wages 10000 Drawings 31000
    wages due 9000 Sundry Receipts 15000
    Building 100000 Bank Overdraft 93000
    Plant 80000 Ground rent 8000
    Interest received 2000 Return Inwards 16000
    Advertisement 12000 Capital 200000
    Outstanding expenses 17000 Investment 44000
    Dep. On Plant 8000
    Prepaid Expenses 10000
    Return Outwards 12000
    Closing stock 162000

    6,33,000 6,33,000

    JOIN OUR YOUTUBE COMMUNITY

    ECONOMICS ON YOUR TIPS COMMERCE CHAMPIONS ACCOUNTS ADDA

    CLASS1111ACCOUNTS
    CLASS ACCOUNTS
    NE SHOT
    THE GAURAV JAIN

    BEGINNER ADVANCED
    TRIAL BALANCE CLASS 11
    WHATSAPP CHANNEL FOR NOTES AND IMPORTANT QUESTIONS

    7690041256
    YE LE BAALAK ... MAUJ KAR

    THE GAURAV JAIN 7690041256

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