Trial Balance and Errors (Part - 2) Commerce Notes | EduRev

DK Goel Solutions - Class 11 Accountancy

Commerce : Trial Balance and Errors (Part - 2) Commerce Notes | EduRev

The document Trial Balance and Errors (Part - 2) Commerce Notes | EduRev is a part of the Commerce Course DK Goel Solutions - Class 11 Accountancy.
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Page No 14.29:
Question 6:
Following is the Trial Balance as at 31st March, 2015:

Having prepared the Trial Balance, it was discovered that following transactions remained unrecorded:
(i) Goods were sold on credit amounting to ₹ 40,000.
(ii) Paid to creditors ₹ 22,000 by cheque.
(iii) Goods worth ₹ 7,000 were returned to a supplier.
(iv) Paid salary ₹ 15,000 by cheque.
Required:
(i) Pass Journal entries for the above mentioned transactions and post them into Ledger
(ii) Redraft the Trial Balance.
ANSWER:








Page No 14.30:
Question 7:
The following is the Trial Balance prepared by an inexperienced accountant. Redraft it in a correct form and give necessary notes : −

ANSWER:


Note: Since, the Trial Balance does not tally, thus, the difference of Rs 3,820 is transferred to the Credit Balance Column of Trial Balance

Page No 14.30:

Question 8:
A book-keeper extracted the following Trial Balance as at 31st March, 2017 :


You are required to redraft the trial balance correctly.
ANSWER:


Note: Closing Stock of Rs 3,30,000 will not appear in Trial Balance, because it has not been accounted yet.

Page No 14.31:
Question 9:
From the following ledger balances prepare trial balance :
Capital ₹ 20,800, Rent outstanding ₹ 1,420, Amount due to Param, ₹ 15,000, Drawing ₹ 2,800, Goodwill ₹ 12,000, Interest received ₹ 2,000, Discount received ₹ 1,580, Amount due from Deepan ₹ 26,000.
ANSWER:

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