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11th Standard English Medium Accountancy Subject Trial Balance Creative 5 Mark Questions with Solution Part - II

Published on: 30/06/2021

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Questions:

Generic 5

5 x 5 = 25

The following balances are extracted from the books of Mr. Senthil, Prepare Trial Balance as on 30.6.2014.

Name of the account	Rs	Name of the account	Rs
Capital	4,70,200	Machine	1,58,800
Cash in 'hand	6,000	Sundry debtors	48,000
Building	3,20,000	Repairs	5,400
Stock	33,000	Insuranc e prerruum	3,300
Sundry creditors	26,000	sales	2,90,000
Commission paid	750	Telepho ne charges	6,450
Rent & Taxes	6,300	Furnitur e	11,000
Purchases	1,75,000	Discount earned	1,100
Salaries	70,600	Loan fromMohammed	51,100
Discount allowed	650	Reserve Fund	5,900
Drawings	5,000	Bills rec eivable	8,600
Bad debts	1,350	Bills pay able	6,000

Prepare Trial Balance as on 31.12.2010 from the following balances of Mr. Balan

Name of the account	Rs	Name of the account	Rs
Capital	3,40,000	Purchases	94,000
Creditors	13,000	Sales returns	3,400
Drawings	4,000	Purchases returns	2,400
Salaries	38,200	Carriage inwards	1,400
Bills receivable	5,800	Printing and Stationery	5,000
Bills payable	7,000	Stock	29,900
Debtors	16,000	Machinery	50,000
Sales	1,44,000	Wages	5,000
Insurance	2,200	Rent	1,600
Land	2,50,000	Interest received	1,700
Commission received	800	Electricity charges	2,400

Imagine that you start a small shop with an investment of Rs 10,000. Record imaginary business transactions for 10 days [include cash and credit transactions]. Prepare journal, ledger and trial balance with them.

From the following balances, prepare trial balance of Baskar as on 31st March 2017. Transfer the difference, if any, to suspense account.

Name of the account	Rs	Name of the account	Rs
Opening stock	40,000	Debtors	25,000
Capital	90,000	Carriage inwards	16,500
Sales	1,77,200	Bills received	20,000
Salaries	12,000	Commission recieved	5,500
Bills payable	9,450	Cash at bank	17,000
Telephone charges	2,350	Furniture	19,000
Creditors	16,000	Plant & Machinery	55,800
Purchases	85,000	Repairs	550

Mary runs a textile store. She has prepared the following trial balance from her ledger balances. Her trial balance does not tally. She needs your help to check whether what she has done is correct.

S.No.	Name of the account	Debit Balance Rs	Credit Balance Rs
1.	Capital	50,000
2.	Discount received		3,000
3.	Rent paid		15,000
4.	Salaries Paid	1,000
5.	Purchases of textiles		20,000
6.	Sale of textiles		30,000
7.	Salesmen commission paid		9,000
8.	Transport charges paid	6,000
9.	Cash balance	32,000
		89,000	77,000

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Answers Key:

Generic 5

5 x 5 = 25

Trial Balance of Mr.Senthil as on 31.6.2014
S.No	Name of Account / Particulars	Debit balance Rs	Credit balance Rs
1	Capital		4,70,200
2	Cash in hand	6,000
3	Building	3,20,000
4	Stock	33,000
5	Sundry creditors		26,000
6	Commission paid	750
7	Rent and taxes	6,300
8	Purchases	1,75,000
9	Salaries	70,600
10	Discount allowed	650
11	Drawings	5,000
12	Bad debts	1,350
13	Machinery	1,58,800
14	Sundry debtors	48,000
15	Repairs	5,400
16	Insurance premium	3,300
17	Sales		2,90,000
18	Telephone charges	6,450
19	Furniture	11,000
20	Discount earned		1,100
21	Loan from Mohammed		51,000
22	Reserve Fund		5,900
23	Bills receivable	8,600
24	Bills payable		6,000
25	Suspense Account		10,000
		8,60,200	8,60,200

Trial Balance of Mr Balan as on 31.12.2010
S.No	Name of Account. / Particulars	Debit balance Rs	Credit balance Rs
1	Capital		3,40,000
2	Creditors		13,000
3	Drawings	4,000
4	Salaries	38,200
5	Bills receivable	5,800
6	Bills payable		7,000
7	Debtors	16,000
8	Sales		1,44,000
9	Insurance	2,200
10	Land	2,50,000
11	Commission received		800
12	Purchases	94,000
13	Sales returns	3,400
14	Purchases returns		2,400
15	Carriage inwards	1,400
16	Printing and Stationery	5,000
17	Stock	29,900
18	Machinery	50,000
19	Wages	5,000
20	Rent	1,600
21	Interest received		1,700
22	Electricity charges	5,08,900	5,08,900

2017 January l. X started business with Rs 10,000
2017 January 2. He purchased goods for cash Rs 2,000
2017 January 3. He sold goods for cash Rs 5,000
2017 January 4. He paid rent Rs 1,000
2017 January 5. He purchased goods on credit from Y Rs 3,000
2017 January 6. He sold goods on credit to Z Rs 6,000
2017 January 7. He paid into bank Rs 2,000
2017 January 8. Wages paid Rs 500
2017 January 9. Salary paid Rs 1,000
2017 January 10. Commission received Rs 1,000.

Journal entries
Date	Particulars	Debit Rs	Credit Rs
2017	Cash A/c Dr.	10,000
Jan 1	To 'X' xapital A/c		10,000
	(X started business)
2	Purchase A/c Dr.	2,000
	To Cash A/c		2,000
	(Cash purchase)
3	Cash A/c Dr.	5,000
	To Sales A/c		5,000
	(Cash sales)
4	Rent A/c Dr.	1,000
	To Cash A/c		1,000
	(Rent paid)
5	Purchase A/c	3,000
	To 'Y' A/c		3,000
	(Credit purchase from Y)
6	'Z' A/c Dr.	6,000
	To sales A/c		6,000
	(Credit sales to 'Z')
7	Bank A/c Dr.	2,000
	To Cash A/c		2,000
	(Paid into bank)
8	Wages A/c Dr.	500
	To Cash A/c		500
	(Wages paid)
9	Salary A/c	1,000
	To Cash A/c		1,000
	(Salary paid)
10	Cash A/c	1,000
	To Commission received A/c		1,000
	(Commission received)

Dr. Cash account Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan. 1	To X's capital A/c	10,000	Jan. 2	By Purchase A/c	2,000
Jan. 3	To Sales A/c	5,000	Jan. 4	By Rent A/c	1,000
Jan. 10	To Commission A/c	1,000	Jan. 7	By Bank A/c	2,000
			Jan. 8	By Wages A/c	500
			Jan. 9	By Salary A/c	1,000
			Jan. 31	By Balanced c/d	9,500
		16,000			16,000
Feb. 1	To Balance b/d	9,500

Dr. 'X' Capital A/c Cr.
Date	Particulars	Rs	Date	Paticulars	Rs
2017			2017
Jan 31	To Balance c/d	10,000	Jan 1	By Cash A/c	10,000
		10,000			10,000
			Feb 1	By Balance b/d	10,000

Dr. Purchase A/c Cr.
Date	Particulars	Rs	Date	Paticulars	Rs
2017			2017
Jan 2	To Cash A/c	2,000	Jan 31	By Balance c/d	5,000
Jan 5	To Y's A/c	3,000
		5,000			5,000
Feb 1	To Balance b/d	5,000

Dr. Sales A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 31	To Balance c/d	11,000	Jan 3	By Cash A/c	5,000
			Jan 6	By 'Z's A/c	6,000

		11,000			11,000
			Feb 1	By Balance b/d	11,000

Dr. Rent A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 4	TO Cash A/c	1,000	Jan 31	By Bank c/d	1,000
		1,000			1,000
Feb 1	To Balance b/d	1,000

Dr. Y's A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 31	To Balance c/d	3,000	Jan 5	By Purchase A/c	3,000
		3,000			3,000
			Feb 1	By Balance b/d	3,000

Dr. Z's A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 6	To Sales A/c	6,000	Jan 31	By Balance c/d	6,000
		6,000			6,000
Feb 1	To Balance b/d	6,000

Dr. Bank A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 7	To Cash A/c	2,000	Jan 31	By Bank c/d	2,000
		2,000			2,000
Feb 1	To Balance b/d	2,000

Dr. Wages A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 8	To Cash A/c	500	Jan 31	By Balance c/d	500
		500			500
Feb 1	To Balance b/d	500

Dr. Salary A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 9	To Cash A/c	1,000	Jan 31	By Balance c/d	1,000
		1,000			1,000
Feb 1	To Balance b/d	1,000

Dr. Commission received A/c Cr.
Date	Particulars	Rs	Date	Particulars	Rs
2017			2017
Jan 31	To Balance c/d	1,000	Jan 10	By Bank A/c	1,000
		1,000			1,000
			Feb 1	By Balance b/d	1,000

Trial balance of Baskar as on 31st March, 2017
S.No	Name of the account	Debit balance Rs	Credit balance Rs
1	Opening stock	40,000
2	Capital		90,000
3	Sales		1,77,200
4	Salaries	12,000
5	Bills payable	9,450
6	Telephone charges	2,350
7	Creditors		16,000
8	Purchases	85,000
9	Debtors	25,000
10	Carriage inwards	16,500
11	Bills receivable	20,000
12	Commission received		5,550
13	Cash at bank	17,000
14	Furniture	19,000
15	Plant and Machinery	55,800
16	Repairs	550
17	Suspense account (Cr)		13,900
	Total	3,02,650	3,02,650

Correct Trial Balance
S.No.	Name of account	Debit Balance Rs	Credit Balance Rs
1.	Capital		50,000
2.	Discount received		3,000
3.	Rent paid	15,000
4.	Salaries paid	1,000
5.	Purchases of textiles	20,000
6.	Sale of textiles		30,000
7.	Salesmen commission paid	9,000
8.	Transport charges paid	6,000
9.	Cash balance	32,000
	Total	83,000	83,000