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Trial Balance

The document provides financial data for three different entities: Mannan & Co., Mr. Akhtar, and Ms. Maria Waseem, detailing their respective balances as of specific dates. Each entity's trial balance includes various accounts such as capital, assets, liabilities, income, and expenses. The information is intended for the preparation of trial balances to assess the financial position of each entity.

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133 views7 pages

Trial Balance

The document provides financial data for three different entities: Mannan & Co., Mr. Akhtar, and Ms. Maria Waseem, detailing their respective balances as of specific dates. Each entity's trial balance includes various accounts such as capital, assets, liabilities, income, and expenses. The information is intended for the preparation of trial balances to assess the financial position of each entity.

Uploaded by

iam AQeeL
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Prepare Trial Balance for Mannan & Co.

as on 31 January, 2023 from the following list:

Drawings Rs. 74,800


Purchases Rs. 295,700
Inventory Rs. 30,000
Bills receivable Rs. 52,500
Capital Rs. 250,000
Furniture Rs. 33,000
Discount allowed Rs. 950
Sales Rs. 335,350
Rent Rs. 72,500
Freight Rs. 3,500
Printing charges Rs. 1,500
Sundry creditors Rs. 75,000
Insurance Rs. 2,700
Sundry expenses Rs. 21,000
Discount received Rs. 1,000
Bank loan Rs. 120,000
Income tax Rs. 9,500
Machinery Rs. 215,400
Bills payable Rs. 31,700
Prepare Trial Balance from the following balances of Mr. Akhtar as on 31.12.2016:

Capital Rs. 420,000


Cash in hand Rs. 25,000
Building Rs. 115,000
Cash at bank Rs. 84,700
Machinery Rs. 60,000
Sundry Creditors Rs. 68,000
Furniture Rs. 11,000
Rent Rs. 48,000
Car Rs. 68,000
Opening stock Rs. 86,000
Commission Rs. 1,400
Rates and Taxes Rs. 2,600
Purchases Rs. 94,000
Bad debts Rs. 3,200
Sales Rs. 196,000
Insurance Rs. 2,400
General Expenses Rs. 800
Sundry debtors Rs. 16,200
Reserve for doubtful debts Rs. 7,300
Salaries Rs. 94,000
Closing Stock Rs. 12,000
Unearned Revenue Rs. 16,000
Interest received Rs. 5,000
The following balances are extracted from the books of Ms. Maria Waseem, Prepare Trial Balance
as on 30.6.2015:

Owner’s Equity Rs. 470,200


Machinery Rs. 158,800
Cash in hand Rs. 6,000
Account receivable Rs. 48,000
Building Rs. 320,000
Repairs Rs. 5,400
Stock Rs. 33,000
Insurance premium Rs. 3,300
Account payable Rs. 26,000
Sales Rs. 290,000
Commission Rs. 750
Telephone charges Rs. 6,450
Rent & Taxes Rs. 6,300
Furniture Rs. 11,000
Purchases Rs. 165,000
Discount earned Rs. 1,100
Loan from Sidra Rs. 51,000
Salaries Rs. 70,600
Reserve fund Rs. 5,900
Discount allowed Rs. 650
Note receivable Rs. 8,600
Drawings Rs. 5,000
Bad debts Rs. 1,350
Bills payable Rs. 6,000

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