PRACTICAL PROBLEMS without Goods and Services Tax (GST) 1, Prepare a Trial Balance with the following information: Sr.No. Name of Account. Balance (%) | Sr.No. Name of Account Balance (%) @ | Gpital 5,00,000| (v) _| Stock 70,000 Gi) | Gash 1,80,000| (vi) | Debtors 6,00,000 (ii) | Creditors 1,00,000} (vif) | Bank Loan 150,000 wv) _| Sales 3,00,000 (vii) _| Purchases 2,00,000 2, Journalise the following transactions, post 2B ia 1 Vijay commenced business with cash April 3 Bought goods pil. 4 Sold goods to Gopal Aptil 10 Bought goods from Ram pil 15 Paid trade expenses 3, Prepare a Trial Balance from the following items: Capital Opening Stock Furniture Purchases Cash Carriage Sales = Capital Account: Bank Overdraft Sales Purchases Return Debtors Wages Capital 1,00,000 5,000 4,000 8,000 2,000 z 340,000 85,000 1,26,000 89,500 73,000 3,000 2,25,000 z 95,000 8,10,000 22,500 4,00,500 96,000 ? [Trial Balance Total—X 10,50,000.] them into Ledger and prepare a Trial Balance: 2023 April 20 Received cash from Gopal 3,950 Discount Allowed 50 April 25 Paid wages 700 April 27 Paid to Ram in full settlement 7,700 April 30 Paid rent 1,500 [Trial Balance Total—X 1,04,300. < Building 1.20000 Returns Inward 19,000 Returns Outward 3,500 Trade Expenses 19,000 Discount Received 9,700 Salary 30,000 Office Rent 22,700 [Trial Balance Total—X 5,78,200 Prepare the Trial Balance of Mahesh as on 31st March, 2023. He has omitted to open a z Purchases 445,000 Cashin Hand 8,500 Creditors 2,15,000 Sales Return 15,750 Equipment 25,000 pening Stock 3,00,500 (Capital 1,48,750 Scanned with CamScanner| gal palance 1425 |g From the following Ledger account balances extracted from the books of Shivam, prepare | gedrafting of a Trial Balance ~ 4 Trial Balance as on 31st March, 2023: z Purchases 1,04,000 sundry Debtors 18,550 Premises 62,000 sales 149,000 Returns Outward ~ 8,900 Discount Allowed 780 Cashat Bank 1,560 Carriage Inwards 650 Salaries 3,900 Stock (1st April, 2022) 25,000 Input IGST A/c 5,000 Input CGST A/c 2,500 Input SGST A/c 2,500 z Drawings 7,950 Sundry Creditors 8,300 Returns Inward 5,360 Furniture 15,600 Cash in Hand 390 Capital 85,000 Factory Wages 5,830 Carriage Outwards 260 Rent Received 2,990 Insurance 2,100 Bad Debts 260 Output IGST A/c 10,000 [Trial Balance Total—% 2,64,190.] 9. Following Trial Balance is given but it is not correct. Prepare correct Trial Balance. Debit Balances z Credit Balances z Building 3,00,000 } Capital 3,68,000 Machinery 85,000 | Furniture 28,000 Returns Outward 13,000 | Sales 5,20,000 Bad Debts 14,000 | Debtors 3,00,000 ta 2,000 | Interest Received 13,000 Discount Received 15,000 Bank Overdraft 50,000 | Creditors 250,000 Purchases 5,00,000 12,29,000 12,29,000 [Total of Correct Trial Balance—¥ 12,29,000.] 10. Redraft correctly the Trial Balance given below: Debit Balances zg Credit Balances < Capital 8,000 | Debtors 7580 Bad Debts Recovered 250 | Bank Deposits 2,750 Geditors 1,250 | Discount Allowed 40 Returns Outward 350 | Drawings 600 Bank Overdraft 1,570 | Returns Inward 450 Rent 360 | Sales 13,690 Salaries 850 Miscellaneous Payables 1,350 Trade Expenses 300 | Grant Received 11000 Gash in Hand 210 Opening Stock 2,450 Purchas 11,870 . {Total of Correct Trial Balance—X 27,460.] Scanned with CamScanner14.26 Double Entry Book Keeping—Case 11, Prepare correct Trial Balance from the following Trial Balance in which the re are certain mistakes: Heads of Accounts DrR) | ce) 150000]. ~ | 40000 - | 60000 ~ | 30000 5000} 60000) = 20,000 ~ | 200,000 0000] 3,50,000 | 350,000 (Hint: Since Adjusted Purchases is given, in the Trial Balance and Closing Stocl [Total of Correct Trial Balance—R 3,20,000 therefore, the opening stock will not be shown c will appear on the debit side.] 12, Correct the following Trial Balance: Debit Balance = [Cred Balance z Opening Stock 7102600 | Debtors rar Returns Outward 48,000 | Cariage Outwards 15000 Salaries 36,000 | Capital 165600 Creditors 184,000 | Machinery S40 Bank 1,35,000 | Returns Inward Ss Carriage inwards 18,000 | Insurance Claim Received 12000 Rent Received 9,000 | Trade Expenses anion Discount Allowed 6,000 | Sales ‘nie Purchases 3,00,000 | Building 0000 Other Liabilities 60,000 798,600 [Total of Correct Trial Balance—% 7,98,600.) Scanned with CamScanner