Trial Balance __ Problems & Solutions

10/17/2014

Trial Balance :: Problems & Solutions

Trial Balance :: Problems & Solutions No. Problems & Solutions 01.

Record the following transactions in the Journal and post them into ledger and prepare a Trail Balance Oct 1st : Neel started business with a capital of Rs. 80,000

• Basic Accounting Proce ss • C onsignm e nt Accounting

3rd : Bought goods from Karl on credit Rs. 20,000

• Bank R e conciliation State m e nt 4th : Sold goods to Tarl Rs.25,000

• Partne rship Accounts

5th : C ash purchases Rs. 25,000

• Final Accounts

7th : C ash sales Rs. 15,000 9th : Goods retuned to Karl Rs. 2,000 10th : Bought furniture for Rs.15,000 11th : C ash paid to Karl Rs. 12,000 12th : Goods returned from Tarl Rs. 3,000

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14th : Goods taken by Neel for personal use Rs. 3,000 15th : C ash received from Tarl Rs. 12,000 16th : Took loan from Parl Rs. 30,000

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17th : Salary paid Rs. 5,000 18th : Bought stationery for Rs. 1,000 19th : Amount paid to Parl on loan account Rs. 18,000 • Proce ss C osting

20th : Interest received for Rs. 4,000

• Standard C osting (Variance Analysis)

• Funds Flow C ash Flow

Solution »

Solution » Hide/Show

Journal in the books of Mr. Ramu for the period from July 1st, 2005 to July 30th, 2005 Date July 1st

V/R No. –

Particulars C ash a/c

L/F Dr

To C apital a/c

–

Debit Amount Credit Amount (in Rs) (in Rs)

• Probability • The ory of Ex pe ctation

75,000

–

• Pe rm utations C om binations

75,000

(R andom Variable )

[Being the amount received from Mr. Ramu, the proprietor as his capital contribution vide receipt no:___ dated:__] July 1st

–

Goods/Stock a/c

Dr

To Manu a/c

–

25,000

–

25,000

[Being the value of stock purchased from

• C A PE-II

Mr. Manu vide bill no:___ dated:__ ] July 2nd

–

Sonu a/c

• C A PC C Dr

To Goods/Stock a/c

–

• C A Final

20,000

–

20,000

[Being the value of stock sold to Mr.Sonu

–

Goods/Stock a/c

• C W A Foundation • C W A Inte r

vide bill no:___ dated:__ ] July 3rd

• C A C PT

• C W A Final Dr

To Meenu a/c

–

15,000

–

• C S Foundation 15,000

[Being the value of stock purchased from

• C S Inte r • C S Final

Mr.Meenu on credit vide bill no:___ dated:__ ] July 4th

–

C ash a/c

Dr

To Goods/Stock a/c

–

16,000

–

16,000

[Being the value of stock sold to Mr. Tanu for cash vide receipt no:___ dated:__ ] July 5th

–

Manu a/c

Dr

To Goods/Stock a/c

–

2,000

–

2,000

[Being the value of stock returned to Mr. Manu vide bill no:___ dated:__ ] July 6th

–

Furniture a/c

Dr

To C ash a/c

–

15,000

–

15,000

[Being the value of furniture purchased from M/s ___vide bill no:___ dated:__ ] July 7th

–

Goods/Stock a/c To Zenu a/c

Dr

– –

12,000 12,000

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Trial Balance :: Problems & Solutions [Being the value of stock Purchased from Mr. Zenu vide bill no:___ dated:__ ] July 8th

–

Dr

Manu a/c To C ash a/c

–

10,000

–

10,000

[Being the amount paid to Mr. Manu vide vocher no:___ dated:__ ] July 9th

–

Dr

Jane a/c To Goods/Stock a/c

–

13,500

–

13,500

[Being the value of stock Sold to Ms.Zane vide bill no:___ dated:__ ] July 10th

–

Dr

Goods/Stock a/c To Sonu a/c

–

3,000

–

3,000

[Being the value of stock returned from Mr. Sonu vide bill no:___ dated:__ ] July 11th

–

Dr

C ash a/c To Jane a/c

–

5,500

–

5,500

[Being the amount of cash received from Ms. Jane vide cash receipt no:___ dated:__ ] July 12th

–

Dr

Drawings a/c To Good/stock a/c

–

3,000

–

3,000

[Being the amount of stock taken by Ramu for domestic use vide bill no:___ dated:__ ] July 13th

–

Dr

Zenu a/c To Goods/stock a/c

–

1,000

–

1,000

[Being the amount of stock returned to Mr. Zenu vide bill no:___ dated:__ ] July 14th

–

Dr

C ash a/c To Sonu a/c

–

12,000

–

12,000

[Being the amount of cash received from Mr. Sonu vide cash receipt no:___ dated:__ ] July 15th

–

Dr

Machinery a/c To C ash a/c

–

18,000

–

18,000

[Being the amount paid for machinery purchased to M/s ____vide vocher no:___ dated:__ ] July 16th

–

Dr

C ash a/c To Furniture a/c

–

1,000

–

1,000

[Being the amount received on sale of furniture vide cash receipt no:___ dated:__ ] July 17th

–

Dr

Drawings a/c To C ash a/c

–

1,500

–

1,500

[Being the amount of cash paid for bicycle purchases for proprietor's son vide vocher no:___ dated:__ ] July 19th

–

Dr

C ash a/c To Goods/Stock a/c

–

15,000

–

15,000

[Being the value of stock sold for cash vide receipt no:___ dated:__ ] July 20th

–

Dr

Goods/Stock a/c To C ash a/c

–

13,500

–

13,500

[Being the value of stock Purchased for vide vocher no:___ dated:__ ]

Dr

Cash a/c Date

Particulars

J/F

Am ount (in Rs)

Date

Cr Particulars

J/F

Am ount (in Rs)

01/07/05

To C apital a/c

–

75,000

05/07/05

By Furniture a/c

–

15,000

04/07/05

To Goods/Stock a/c

–

16,000

08/07/05

By Manu a/c

–

10,000

11/07/05

To Jane a/c

–

5,500

15/07/05

By Machinery a/c

–

18,000

14/07/05

To Sonu

–

12,000

17/07/05

By Drawings a/c

–

1,500

16/07/05

To Furniture a/c

–

1,000

17/07/05

By Goods/Stock a/c

–

13,500

19/07/05

To Goods/Stock a/c

–

30/07/05

By Balance c/d

sub-total Total 31/07/05

To Balance b/d

15,000

sub-total

1,24,500

Dr

66,500

Total

1,24,500 –

58,000 –

1,24,500

66,500

Capital a/c Date

Particulars

J/F

Am ount (in Rs)

Date 01/07/05

sub-total 30/07/05

To Balance c/d

0 –

Cr Particulars By C ash a/c

J/F

Am ount (in Rs)

–

sub-total

75,000 75,000

75,000

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Trial Balance :: Problems & Solutions 75,000

Total

31/07/05

Dr

75,000

Total By Balance b/d

–

75,000

Goods/Stock a/c Date

Particulars

01/07/05 03/07/05 07/07/05 10/07/05 20/07/05

To Manu a/c To Meenu a/c To Zenu a/c To Sonu a/c

J/F

Am ount (in Rs)

Date

–

25,000

02/07/05

–

15,000

04/07/05

–

12,000

05/07/05

–

3,000

05/07/05

–

13,500

05/07/05 13/07/05

To C ash a/c

19/07/05

Cr Particulars

By Sonu a/c By Goods /stock a/c By Manu a/c By Zane a/c By Drawings a/c By Zenu a/c

J/F

Am ount (in Rs)

–

15,000

–

16,000

–

2,000

–

13,500

–

3,000

–

1,000

–

15,000 65,500

By C ash a/c

3,000 68,500

sub-total Total 31/07/05

To Balance b/d

sub-total

68,500 –

30/07/05

–

65,500 –

3,000

Total

68,500

Dr

To Balance c/d

68,500

3,000

Manu a/c Date

Particulars

J/F

Am ount (in Rs)

Date

05/07/05

To Goods/Stock a/c

–

2,000

o8/07/05

To C ash a/c

–

10,000

30/07/05

To Balance c/d

sub-total

01/07/05

Cr Particulars By Goods/Stock a/c

Total

25,000 25,000

13,000

Total

25,000 31/07/05

Dr

–

sub-total

12,000 –

J/F

Am ount (in Rs)

By Balance b/d

25,000 –

13,000;

Sonu a/c Date

02/07/05

Particulars To Goods/Stock a/c

J/F –

Total

Am ount (in Rs)

Date

15,000

J/F

Am ount (in Rs)

10/07/05

By Goods/stock a/c

–

3,000

14/07/05

By C ash a/c

–

12,000

Total

15,000

Dr

Cr Particulars

15,000

Meenu a/c Date

Particulars

J/F

Am ount (in Rs)

Date 03/07/05

sub-total 30/07/05

To Balance c/d

Cr Particulars By Goods/Stock a/c

Total

–

15,000 15,000

15,000

Total

15,000 31/07/05

Dr

Am ount (in Rs)

sub-total

0 –

J/F

By Balance b/d

15,000 –

15,000;

Furniture a/c Date

06/07/05

Particulars To C ash a/c

J/F –

sub-total

Am ount (in Rs) 15,000

Date 14/07/05

Total To Balance b/d

Particulars By C ash a/c

Dr

–

1,000

By Balance c/d

–

14,000

1,000

Total

15,000 –

J/F

sub-total

15,000 30/07/05

31/07/05

Cr Am ount (in Rs)

15,000

14,000

Zenu a/c Date

13/07/05

Particulars To Goods/Stock a/c

J/F –

sub-total 30/07/05

To Balance c/d

Am ount (in Rs) 1,000

Date 07/07/05

Cr Particulars By Goods/Stock a/c

Total

12,000 12,000

11,000

Total

12,000 31/07/05

Dr

–

sub-total

1,000 –

J/F

Am ount (in Rs)

By Balance b/d

12,000 –

11,000;

Jane a/c Date

09/07/05

Particulars To Goods/stock a/c

J/F –

sub-total

Am ount (in Rs) 13,500

Date 11/07/05

30/07/05

31/07/05

To Balance b/d

–

J/F –

5,500

By Balance c/d

5,500 –

8,000

Total

13,500

Dr

Particulars By C ash a/c

sub-total

13,500

Total

Cr Am ount (in Rs)

13,500

8,000

Drawings a/c Date

Particulars

J/F

Am ount (in Rs)

13/07/05

To Goods/stock a/c

–

3,000

17/07/05

To C ash a/c

–

1,500

Date

Cr Particulars

J/F

Am ount (in Rs)

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Trial Balance :: Problems & Solutions 4,500

sub-total Total 31/07/05

By Balance c/d

–

–

4,500

Total

4,500

To Balance b/d

0

sub-total 30/07/05

4,500

4,500

Dr

Machinery a/c Date

Particulars

15/07/05

Am ount (in Rs)

J/F –

To C ash a/c

Date

Particulars

J/F

3,000 18,000

sub-total

sub-total

18,000 30/07/05

Total 31/07/05

Cr Am ount (in Rs)

By Balance c/d

–

18,000

Total

18,000

To Balance b/d

0 –

18,000

18,000

No. Problems & Solutions 02.

Enter the following transactions in the Journal and post them into ledger. From the information obtained prepare a Trail Balance. Nov 10th : Mr. Roy started business with Rs.60,000 11th : Bought furniture from Modern Furniture for Rs. 10,000 12th : Purchased goods for cash Rs. 15,000 13th : Purchased goods from B. Sen & C o for Rs.30,000 14th : Opened a bank account by depositing Rs. 16,000 16th : Sold goods for cash Rs. 15,000 17th : Purchased stationery for Rs.1000 from Bharat Stationery Mart 18th : Sold goods to Zahir Khan for Rs. 10,000 19th : Bought machinery for Rs. 6,000 and payment made by cheque 20th : Goods returned by Zahir Khan for Rs. 2,000 21st : Payment to B.Sen &C o by cheque Rs. 5,000 22nd : Withdrew from bank for personal use Rs. 3,000 23rd : Withdrew from bank for office use Rs. 10,000 24th : Interest paid through cheque Rs. 2,000 26th : C heque received from Zahir Khan Rs. 5,000 27th : Paid electricity bill for Rs. 100 29th : C ash sales for Rs. 6,000 30th : C ommission received by cheque Rs. 5,000

Solution » Journal in the books of Mr. Moon for the period from August 10th, 2005 to August 30th, 2005 Date

V/R No.

August 10th

–

Particulars C ash a/c

L/F Dr

To C apital a/c

–

Debit Amount Credit Amount (in Rs) (in Rs) 1,50,000

–

1,50,000

[Being the amount received from Mr. Moon, the proprietor as his capital contribution vide receipt no:___ dated:__ ] August 11th

–

Bank a/c

Dr

To C ash a/c

–

50,000

–

50,000

[Being the amount of cash deposited into bank vide bill no:___ dated:__ ] August 12th

–

Equipment a/c

Dr

To C ash a/c

–

15,000

–

15,000

[Being the value of equipment purchased from M/s___ for cash vide bill no:___ dated:__ ] August 13th

–

Goods/Stock a/c To Bank a/c

Dr

–

20,000

–

20,000

[Being the payment made for stock

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Trial Balance :: Problems & Solutions purchased vide C heque no:___ dated:__ ] August 14th

–

Dr

Bank a/c To Goods/Stock a/c

–

15,000

–

15,000

[Being the amount received for stock sold to Mr. Sun vide C heque no:___ dated:__ ] August 16th

–

Dr

Rent a/c To Bank a/c

–

5,000

–

5,000

[Being the amount paid for rent vide vocher no:___ dated:__ ]

August 17th

–

Dr

C ash a/c To Loan from Storm a/c

–

25,000

–

25,000

[Being the cash received from Mr. Storm as loan vide receipt no:___ dated:__ ] August 18th

–

Dr

Bank a/c To C ommission a/c

–

5,000

–

5,000

[Being the amount received for commission vide cheque no:___ dated:__ ] August 19th

–

Dr

Wages a/c To C ash a/c

–

15,000

–

15,000

[Being the amount paid for wages vide vocher no:___ dated:__ ] August 20th

–

Dr

Drawings a/c To Bank a/c

–

3,000

–

3,000

[Being the amount withdrawn from bank for personal use vide cheque no:___ dated:__ ] August 21st

–

Dr

C ash a/c To Bank a/c

–

10,000

–

10,000

[Being the amount withdrawn from bank for office purpose vide cheque no:___ dated:__ ] August 22nd

–

Dr

Goods/Stock a/c To C ash a/c

–

25,000

–

25,000

[Being the amount of cash paid for stock purchases vide vocher no:___ dated:__ ] August 23rd

–

Dr

Bank a/c To C ash a/c

–

30,000

–

30,000

[Being the amount deposited into bank vide vocher no:___ dated:__ ] August 24th

–

Dr

Interest a/c To Bank a/c

–

2,000

–

2,000

[Being the amount of interest paid vide cheque no:___ dated:__ ] August 25th

–

Dr

Loan to Mr. Wind a/c To C ash a/c

–

10,000

–

10,000

[Being the amount of cash given to Mr. Wind as loan vide vocher no:___ dated:__ ] August 26th

–

Dr

Loan from Storm a/c To C ash a/c

–

15,000

–

15,000

[Being the amount paid to Mr. Storm for repayment of loan vide vocher no:___ dated:__ ] August 27th

–

Dr

Salary a/c To C ash a/c

–

5,000

–

5,000

[Being the amount paid for salary to Mr. Liquid vide vocher no:___ dated:__ ] August 28th

–

Dr

Postage a/c To C ash a/c

–

1,000

–

1,000

[Being the amount paid for purchase of postage vide vocher no:___ dated:__ ] August 29th

–

Dr

Bank a/c To Equipment a/c

–

3,000

–

3,000

[Being the C heque no:___ date___ received from Mr. Wind for repayment of loan] August 30th

–

Dr

C ash a/c To Loan to Mr. Wind a/c

–

2,000

–

2,000

[Being the amount received on sale of equipment vide receipt no:___ dated:__ ]

Dr

Cash a/c Date

Particulars

J/F

Am ount

Date

Cr Particulars

J/F

Am ount

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Trial Balance :: Problems & Solutions (in Rs) 10/08/05

To C apital a/c

–

17/08/05

To loan from storm

21/08/05

a/c

–

30/08/05

To Bank a/c To Equipment

(in Rs)

15,000

11/08/05

By Bank a/c

–

50,000

12/08/05

By Equipment a/c

–

15,000

25,000

19/08/05

By Wages a/c

–

15,000

–

10,000

22/08/05

By Goods/stock a/c

–

25,000

–

2,000

23/08/05

By Bank a/c

–

30,000

25/08/05

By Loan to Wind a/c

–

10,000

26/08/05

By Loan from storm 15,000

a/c

–

27/08/05

By Salaries a/c

–

28/08/05

By Postage a/c

–

30/08/05

By Balance c/d

–

5,000 1,000 21,000

Total 31/07/05

To Balance b/d

Total

1,87,000 –

Dr

1,87,000

21,000

Capital a/c Date

30/08/05

Particulars

To Balance c/d

J/F

–

Am ount (in Rs)

Date

Cr Particulars

J/F

10/08/05

By C ash a/c

–

31/08/05

By Balance b/d

–

Am ount (in Rs) 1,50,000

1,50,000 1,50,000

Dr

1,50,000 1,50,000

Bank a/c Date

Particulars

J/F

Am ount (in Rs)

Date

Cr Particulars

J/F

Am ount (in Rs)

11/08/05

T0 C ash a/c

–

50,000

13/08/05

By Goods/Stock a/c

–

20,000

14/08/05

To Goods/Stock a/c

–

15,000

16/08/05

By Rent a/c

–

5,000

18/08/05

To C ommission a/c

–

5,000

20/08/05

By Drawings a/c

–

3,000

23/08/05

To C ash

–

30,000

21/08/05

By C ash a/c

–

10,000

29/08/05

To Loan to Mr wind

24/08/05

By Interest a/c

–

2,000

a/c

–

3,000

30/08/05

By Balance c/d

–

63,000

To Balance b/d

–

1,03,000 31/08/05

Dr

1,03,000

63,000

Equipment a/c Date

12/08/05

Particulars To C ash a/c

J/F –

Am ount (in Rs) 15,000

Date

Cr Particulars

J/F

Am ount (in Rs)

30/08/05

By C ash a/c

–

2,000

30/08/05

By Balance c/d

–

13,000

15,000 31/08/05

To Balance b/d

–

Dr

15,000

13,000

Goods/Stock a/c Date

Particulars

J/F

Am ount (in Rs)

13/08/05

To Bank a/c

–

20,000

22/08/05

To C ash a/c

–

25,000

Date

Cr Particulars

J/F

Am ount (in Rs)

14/08/05

By Bank a/c

–

15,000

30/08/05

By Balance c/d

–

30,000

45,000 31/08/05

To Balance b/d

–

Dr

45,000

30,000

Rent a/c Date

16/08/05

Particulars To Bank a/c

J/F

Am ount (in Rs)

Date

Cr Particulars

J/F

Am ount (in Rs)

– 5,000

30/08/05

By Balance c/d

–

5,000

5,000 31/08/05

To Balance b/d

–

Dr

5,000

5,000

Loan from Storm a/c Date

Particulars

J/F

Am ount (in Rs)

26/08/05

To C ash a/c

–

15,000

30/08/05

To Balance c/d

–

10,000

Date

Cr Particulars

J/F

17/08/05

By C ash a/c

–

31/08/05

By Balance b/d

–

Am ount (in Rs) 25,000

25,000

Dr

25,000 10,000

Commission a/c Date

30/08/05

Particulars

To Balance c/d

J/F

–

Am ount (in Rs)

Date

Cr Particulars

J/F

18/08/05

By Bank a/c

–

31/08/05

By Balance b/d

–

Am ount (in Rs) 5,000

5,000 5,000

Dr

5,000 5,000

Wages a/c Date

19/08/05

Particulars To C ash a/c

J/F –

Am ount (in Rs)

Date

Cr Particulars

J/F

Am ount (in Rs)

15,000 30/08/05

By Balance c/d

–

15,000

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15,000 15,000

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Trial Balance :: Problems & Solutions 31/08/05

To Balance b/d

–

Dr

15,000

Drawings a/c Date

20/08/05

Particulars To Bank a/c

J/F –

Am ount (in Rs)

Cr

Date

Particulars

J/F

Am ount (in Rs)

3,000 30/08/05

By Balance c/d

–

3,000

3,000 31/08/05

To Balance b/d

–

Dr

3,000

3,000

Interest a/c Date

24/08/05

Particulars To Bank a/c

J/F –

Am ount (in Rs)

Cr

Date

Particulars

J/F

Am ount (in Rs)

2,000 30/08/05

By Balance c/d

–

2,000

2,000 31/08/05

To Balance b/d

–

Dr

2,000

2,000

Loan to Wind a/c Date

25/08/05

Particulars To C ash a/c

J/F –

Am ount (in Rs) 10,000

Cr

Date

Particulars

J/F

29/08/05

By Bank

–

30/08/05

By Balance c/d

–

Am ount (in Rs) 3,000 7,000

10,000 31/08/05

To Balance b/d

–

Dr

10,000

7,000

Salaries a/c Date

27/08/05

Particulars To C ash a/c

J/F –

Am ount (in Rs)

Cr

Date

Particulars

J/F

Am ount (in Rs)

5,000 30/08/05

By Balance c/d

–

5,000

5,000 31/08/05

To Balance b/d

–

Dr

5,000

5,000

Postage a/c Date

28/08/05

Particulars To C ash a/c

J/F –

Am ount (in Rs)

Cr

Date

Particulars

J/F

Am ount (in Rs)

1,000 30/08/05

By Balance c/d

–

1,000 31/08/05

To Balance b/d

–

1,000 1,000

1,000

Author C redit : The Edifier

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