7. Following is the Trial Balance as at 31st March, 2015 :
| Name of Accounts | L.F. | Debit ₹ |
Credit ₹ |
|---|---|---|---|
| Capital | 3,20,000 | ||
| Fixed Assets | 1,80,000 | ||
| Drawings | 60,000 | ||
| Debtors | 2,40,000 | ||
| Creditors | 1,80,000 | ||
| Purchases | 7,10,000 | ||
| Sales | 10,50,000 | ||
| Bank Balance | 45,000 | ||
| Cash in Hand | 30,000 | ||
| Salary | 1,65,000 | ||
| Rent | 1,20,000 | ||
| 15,50,000 | 15,50000 |
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.
D.K.Goel/2024 Edition/Practical Questions/Q-07
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :