1. Assignment III – Trial Balance<br />Q. 1 Given below is a ledger extract relating to the business of X and Co. as on March 31, 2009. You are required to prepare the Trial Balance.<br />Cash AccountDr.Cr.ParticularsRs.ParticularsRs.To Capital A/c10,000By Furniture A/c3,000To Ram’s A/c25,000By Salaries A/c2,500To Cash Sales500By Shyam’s A/c21,000By Cash Purchases1,000By Capital A/c500By Balance c/d7,50035,50035,500Furniture AccountDr.Cr.ParticularsRs.ParticularsRs.To Cash A/c3,000By Balance c/d3,0003,0003,000Salaries AccountDr.Cr.ParticularsRs.ParticularsRs.To Cash A/c2,500By Balance c/d2,5002,5002,500Shyam’s AccountDr.Cr.ParticularsRs.ParticularsRs.To Cash A/c21,000By Purchases A/c(Credit Purchases)25,000To Purchase Returns A/c500To Balance c/d3,500-25,00025,000Purchases AccountDr.Cr.ParticularsRs.ParticularsRs.To Cash A/c (Cash Purchases)1,000By Balance c/d26,000To Sundries as per Purchases Book (Credit Purchases)25,000-26,00026,000Purchases Returns AccountDr.Cr.ParticularsRs.ParticularsRs.To Balance c/d500By Sundries as per Purchases Return Book500500500Ram’s AccountDr.Cr.ParticularsRs.ParticularsRs.To Sales A/c (Credit Sales)30,000By Sales Returns A/c100By Cash A/c25,000By Balance c/d4,90030,00030,000Sales AccountDr.Cr.ParticularsRs.ParticularsRs.To Balance c/d30,500By Cash A/c (Cash Sales)500By Sundries as per Sales Book (Credit sales)30,00030,50030,500Sales Returns AccountDr.Cr.ParticularsRs.ParticularsRs.To Sundries as per Sales Return Book100By Balance c/d100100100Capital AccountDr.Cr.ParticularsRs.ParticularsRs.To Cash A/c500By Cash A/c10,000To Balance c/d9,500-10,00010,000<br />Q.2 From the following ledger balances, prepare a trial balance of Anuradha Traders as on March 31, 2009:<br />Account Head Rs.Capital 1,00,000Sales1,66,000Purchases1,50,000Sales return1,000Discount allowed2,000Expenses10,000Debtors 75,000Creditors25,000Investments15,000Cash at bank and in hand37,000Interest received on investments1,500Insurance paid 2,500<br />Q.3 One of your clients, X has asked you to finalize his accounts for the year ended March 31, 2009. Till date, he himself has recorded the transactions in books of accounts. As a basis for audit, X furnished you with the following statement.<br />Dr. BalanceCr. BalanceX’s Capital1,556X’s Drawings564Leasehold premises750Sales2,750Due from customers530Purchases1,259Purchases return264Loan from bank256Creditors528Trade expenses700Cash at bank226Bills payable 100Salaries and wages600Stock (1.4.2008)264Rent and rates463Sales return 985,4545,454<br />The closing stock on March 31, 2009 was valued at Rs. 574. X claims that he has recorded every transaction correctly as the trial balance is tallied. Check the accuracy of the above trial balance.<br />