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प्रश्न
What are the methods of preparation of trial balance?
उत्तर
Trial Balance is prepared in the following methods:
1. Balance method: In this method, the balance of every ledger account either debit or credit, as the case may be, is recorded in the trial balance against the respective accounts. The balance method is widely used, as it helps in the preparation of financial statements.
2. Total method: Under this method, the total amounts on the debit side of the ledger accounts and the total amounts on the credit side of the ledger accounts are ascertained and recorded in the trial balance. This method is not commonly used as it cannot help in the preparation of financial statements.
3. Total and Balance method: This method is a combination of both the total method and the balance method. Under this method, four columns are provided, namely,
- Totals of the debit side of the ledger accounts,
- Totals of the debit side of the ledger accounts,
- Totals of the debit side of the ledger accounts,
- Credit balances of the ledger accounts. This method is not in practice.
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संबंधित प्रश्न
Which of the following method(s) can be used for preparing trial balance?
Give the format of trial balance.
Prepare the trial balance from the following information:
| Name of the account | ₹ | Name of the account | ₹ |
| Bank loan | 2,00,000 | Purchases | 1,80,000 |
| Bills payable | 1,00,000 | Sales | 3,00,000 |
| Stock | 70,000 | Debtors | 4,00,000 |
| Capital | 2,50,000 | Bank | 2,00,000 |
Prepare the trial balance from the following balances of Chandramohan as on 31st March, 2017.
| Name of the account | ₹ | Name of the account | ₹ |
| Capital | 1,24,500 | Bank overdraft | 5,800 |
| Drawings | 2,000 | Motor car | 20,000 |
| Loan borrowed | 7,000 | General expenses | 2,500 |
| Sales | 53,400 | Building | 1,10,000 |
| Purchases | 40,000 | Stock | 16,200 |
Prepare the trial balance from the following balances of Babu as on 31st March, 2016.
| Name of the account | ₹ | Name of the account | ₹ |
| Cash in hand | 7,000 | Bills receivable | 7,000 |
| Sundry debtors | 5,400 | Sundry creditors | 11,800 |
| Salaries | 6,800 | Capital | 25,000 |
| Bad debts | 200 | Purchases | 45,000 |
| Opening stock | 15,400 | Sales | 50,000 |
Prepare the trial balance from the following balances of Rajesh as on 31st March, 2017.
| Name of the account | ₹ | Name of the account | ₹ |
| Bills receivable | 13,000 | Drawings | 7,000 |
| Bank charges | 750 | Sundry debtors | 17,100 |
| Conveyance charges | 350 | Bills payable | 12,000 |
| Discount received | 1,300 | Capital | 25,900 |
| Cash in hand | 1,000 |
The following balances are extracted from the books of Ravichandran on 31st December, 2016. Prepare the trial balance.
| Name of the account | ₹ | Name of the account | ₹ |
| Capital | 1,50,000 | Sales | 75,000 |
| Debtors | 22,800 | Return inwards | 1,000 |
| Rent received | 500 | Discount allowed | 800 |
| Bank overdraft | 3,100 | Discount received | 1,000 |
| Creditors | 5,500 | Wages | 2,900 |
| Premises | 1,46,000 | Salaries | 3,500 |
| Opening stock | 10,000 | Commission paid | 1,100 |
| Purchases | 45,000 | General expenses | 2,000 |
Correct the following trial balance:
| Particulars | Debit Balance ₹ | Credit Balance ₹ |
| Opening Stock | 1,00,000 | |
| Salaries | 36,000 | |
| Creditors | 1,32,000 | |
| Bank | 35,000 | |
| Carriage inwards | 18,000 | |
| Rent received | 9,000 | |
| Discount allowed | 6,000 | |
| Purchases | 3,48,000 | |
| Bills payable | 60,000 | |
| Debtors | 45,000 | |
| Carriage outwards | 15,000 | |
| Capital | 1,63,000 | |
| Returns inward | 9,000 | |
| Discount received | 12,000 | |
| Trade expenses | 18,000 | |
| Sales | 3,68,000 | |
| Building | 1,14,000 | |
| Total | 7,44,000 | 7,44,000 |
