3. Amity Business School
1 (a). Closing Stock
Particulars Debit credit
Opening Stock 20,000
Purchase 50,000
Sales 90,000
Stock at the end of the year is Rs 20,000
(Closing stock is outside the Trial Balance)
1(b). Closing Stock inside the trial Balance
Particulars Debit Credit
Opening Stock 20,000
Purchase 50,000
Sales 90,000
Closing Stock 20,000
4. Amity Business School
1.a. Trading Account
To opening stock 20000 By sales 90000
To purchase 50000 By Closing stock 20000
To Gross profits 40000
110000 110000
Particulars Amt Particulars Amt
Balance Sheet
Closing stock 20000
Liabilities Amt Assets Amt
1.b.
Liabilities Amt Assets Amt
By Closing
Stock 20000
5. Amity Business School
2. Outstanding Expenses ( expenses due but not paid or Expense accrued)
Particulars Debit Credit
Salaries
Rent
5,500
3000
Trial Balance For the year ending 31st
March 2010
Additional Information;
1. Salary for the month of March Rs 500 has not yet been paid
2. Rent Rs 1000 is still outstanding
2(b). If these items appears only in the Trial Balance
Particulars Dr Cr
Salaries
Rent
Outstanding salaries
Outstanding Rent
5,500
3000
500
1000
6. Amity Business School
3(a) Prepaid Expenses
Particulars Debit Credit
Salaries
Rent
26000
13000
Additional information:
1. Salary has been paid in advance amounting to Rs 2000 for the next year
2. Rent Rs 1000 has been paid in advance for the month of January
Trial Balance For the year ending 31st
December 2009
3(b). If these items appears inside the trial Balance
Particulars Debit Credit
Salaries
Rent
Prepaid Salary
Prepaid Rent
26000
13000
2000
1000
7. Amity Business School
3(a) Prepaid Expenses
Particulars Debit Credit
Salaries
Rent
26000
13000
Additional information:
1. Salary has been paid in advance amounting to Rs 2000 for the next year
2. Rent Rs 1000 has been paid in advance for the month of January
Trial Balance For the year ending 31st
December 2009
3(b). If these items appears inside the trial Balance
Particulars Debit Credit
Salaries
Rent
Prepaid Salary
Prepaid Rent
26000
13000
2000
1000
