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Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be?
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Given below are the ledger balances of a management consultancy firm: ...
Calculation of Total of Trial Balance
The trial balance is a statement that shows the balances of all the ledger accounts at a particular point in time. It is prepared to ensure that the total of all the debit balances equals the total of all the credit balances. The total of the trial balance represents the total financial position of a business.
Given Ledger Balances:
- Capital Rs. 4,00,000
- Computer Rs. 25,000
- Air Conditioner and furniture Rs. 1,00,000
- Fixed Deposits Rs. 2,00,000
- Salaries Rs. 8,00,000
- Fees received Rs. 12,00,000
- Travelling expenses Rs. 1,50,000
- Rent and office expenses Rs. 2,40,000
- Cash balances Rs. 1,80,000
- Bank overdraft Rs. 95,000
Calculation of Total of Trial Balance:
To calculate the total of the trial balance, we need to add all the debit balances and credit balances separately.
Debit Balances:
- Computer Rs. 25,000
- Air Conditioner and furniture Rs. 1,00,000
- Fixed Deposits Rs. 2,00,000
- Salaries Rs. 8,00,000
- Travelling expenses Rs. 1,50,000
- Rent and office expenses Rs. 2,40,000
- Cash balances Rs. 1,80,000
Total Debit Balances = Rs. 16,95,000
Credit Balances:
- Capital Rs. 4,00,000
- Fees received Rs. 12,00,000
- Bank overdraft Rs. 95,000
Total Credit Balances = Rs. 16,95,000
The total of the trial balance is the sum of all the debit balances and credit balances, which is Rs. 16,95,000. This means that the total assets of the business are equal to the total liabilities and capital.
Conclusion:
In conclusion, the total of the trial balance is calculated by adding all the debit balances and credit balances separately and then adding them together. It is an important statement that helps to ensure the accuracy of the accounting records and provides a snapshot of the financial position of the business.
The trial balance is a statement that shows the balances of all the ledger accounts at a particular point in time. It is prepared to ensure that the total of all the debit balances equals the total of all the credit balances. The total of the trial balance represents the total financial position of a business.
Given Ledger Balances:
- Capital Rs. 4,00,000
- Computer Rs. 25,000
- Air Conditioner and furniture Rs. 1,00,000
- Fixed Deposits Rs. 2,00,000
- Salaries Rs. 8,00,000
- Fees received Rs. 12,00,000
- Travelling expenses Rs. 1,50,000
- Rent and office expenses Rs. 2,40,000
- Cash balances Rs. 1,80,000
- Bank overdraft Rs. 95,000
Calculation of Total of Trial Balance:
To calculate the total of the trial balance, we need to add all the debit balances and credit balances separately.
Debit Balances:
- Computer Rs. 25,000
- Air Conditioner and furniture Rs. 1,00,000
- Fixed Deposits Rs. 2,00,000
- Salaries Rs. 8,00,000
- Travelling expenses Rs. 1,50,000
- Rent and office expenses Rs. 2,40,000
- Cash balances Rs. 1,80,000
Total Debit Balances = Rs. 16,95,000
Credit Balances:
- Capital Rs. 4,00,000
- Fees received Rs. 12,00,000
- Bank overdraft Rs. 95,000
Total Credit Balances = Rs. 16,95,000
The total of the trial balance is the sum of all the debit balances and credit balances, which is Rs. 16,95,000. This means that the total assets of the business are equal to the total liabilities and capital.
Conclusion:
In conclusion, the total of the trial balance is calculated by adding all the debit balances and credit balances separately and then adding them together. It is an important statement that helps to ensure the accuracy of the accounting records and provides a snapshot of the financial position of the business.
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Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be?
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Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be?.
Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be?.
Solutions for Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? in English & in Hindi are available as part of our courses for CA Foundation.
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Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be?, a detailed solution for Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? has been provided alongside types of Given below are the ledger balances of a management consultancy firm: Capital Rs. 4,00,000, Computer Rs. 25,000, Air Conditioner and furniture Rs. 1,00,000, Fixed Deposits Rs. 2,00,000, Salaries Rs. 8,00,000, Fees received Rs. 12,00,000, Travelling expenses Rs. 1,50,000, Rent and office expenses Rs. 2,40,000, Cash balances Rs. 1,80,000, Bank overdraft Rs. 95,000. The total of the trial balance will be? theory, EduRev gives you an
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