The document discusses trial balance, including its meaning, characteristics, objectives, and format. It provides examples of trial balances prepared from sample ledger account balances. It also includes exercises for the reader to practice preparing trial balances from given ledger account information.
Both the chapters journal and ledger along with the accounting cycle is resent in the PPT with their formats. It makes the learning of the chapters easy for an accountancy student.
Ledger in financial accounting (11th commerce)Yamini Kahaliya
This presentation is on ledger which is the topic of financial accounting. it contents details about following points. There are:-
1. Meaning of ledger
2. Need & Importance of ledger
3. Advantage of Ledger
4. Difference b/w Journal & ledger
5. Format of ledger
6. Rules of posting
7. Illustrations
8. Exercise
It is the system in which both the aspects i.e. debit as well as credit are recorded in the books of accounts .It records transactions relating to all the accounts i.e. personal, real and nominal.
Both the chapters journal and ledger along with the accounting cycle is resent in the PPT with their formats. It makes the learning of the chapters easy for an accountancy student.
Ledger in financial accounting (11th commerce)Yamini Kahaliya
This presentation is on ledger which is the topic of financial accounting. it contents details about following points. There are:-
1. Meaning of ledger
2. Need & Importance of ledger
3. Advantage of Ledger
4. Difference b/w Journal & ledger
5. Format of ledger
6. Rules of posting
7. Illustrations
8. Exercise
It is the system in which both the aspects i.e. debit as well as credit are recorded in the books of accounts .It records transactions relating to all the accounts i.e. personal, real and nominal.
5.01 Meaning of an Account
5.02 Meaning of Debit and Credit
5.03 Classification of Accounts
5.04 Significance of Debit and credit in Accounts
5.05 Journal
5.05.01 Steps and Rules of Journalising
5.05.02 Totaling and Carry Forward.
5.05.03 Simple and Compound Journal Entries
5.06 Opening Entry
5.07 Sub-division of Journal
5.08 Ledger
5.08.01 Meaning
5.08.02 Form of a Ledger
5.08.03 Mechanics of Posting
5.08.04 Balancing of Ledger Accounts
This presentation is based on the subject Financial Accounting which helps the beginners to know the basic concept of accounting . This is according to the syllabus of Pt. Ravishankar University , Raipur and Durg University, Durg.
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
5.01 Meaning of an Account
5.02 Meaning of Debit and Credit
5.03 Classification of Accounts
5.04 Significance of Debit and credit in Accounts
5.05 Journal
5.05.01 Steps and Rules of Journalising
5.05.02 Totaling and Carry Forward.
5.05.03 Simple and Compound Journal Entries
5.06 Opening Entry
5.07 Sub-division of Journal
5.08 Ledger
5.08.01 Meaning
5.08.02 Form of a Ledger
5.08.03 Mechanics of Posting
5.08.04 Balancing of Ledger Accounts
This presentation is based on the subject Financial Accounting which helps the beginners to know the basic concept of accounting . This is according to the syllabus of Pt. Ravishankar University , Raipur and Durg University, Durg.
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
i have made this ppt for my college ,,i will share this for those gyes who want a specimen of bfa subject
and this slide making crdt goes to my sir.. thank you sir
From the following information calculate Debtors turnover ratio (DTR) and Average collection period (ACP).
Total Sales Rs.3,80,000, Cash sales Rs. 2,40,000, Opening Debtors Rs. 12,000, Closing Debtors Rs. 16,800. Opening balance of Bills receivable Rs. 9,600 and Closing balance of Bills receivable Rs.14,400.
The Debtors Turnover Ratio also called as Receivables Turnover Ratio or Debtors velocity shows how quickly the credit sales are converted into the cash. This ratio measures the efficiency of a firm in managing and collecting the credit issued to the customers.
It is calculated by the following formula:
De퐛퐭퐨퐫퐬 퐓퐮퐫퐧퐨퐯퐞퐫 퐑퐚퐭퐢퐨=(퐍퐞퐭 퐂퐫퐞퐝퐢퐭 퐒퐚퐥퐞퐬)/(퐀퐯퐞퐫퐚퐠퐞 퐃퐞퐛퐭퐨퐫퐬)
Interpretation:
Standard credit period is 30 days
If the credit period is more than 30 days it indicates that the concern is not efficient.
If the credit period is less than 30 days it indicates that the concern is efficient.
The Average Collection Period, also called as Debt Collection Period, shows how much time business takes to realize the credit sales. Simply, how long will it take to recover payments from the debtors against the credit sales?
It is calculated by dividing the number of months or days or weeks by the debtors turnover ratio.
PRESENTATION USED FOR PGPSE PARTICIPANTS OF AFTERSCHOOOL. JOIN AFTERSCHOOOL - IT IS THE BEST WAY TO BECOME AN ENTREPRENEUR AND WORK FOR SOCIAL DEVELOPMENT
This material is a part of our PGPSE programe. Our programme is available for any student after class 12th / graduation. AFTERSCHO☺OL conducts PGPSE, which is available free to all online students. There are no charges. PGPSE is a very rigorous programme, designed to give a comprehensive training in social entrepreneurship / spiritual entrepreneurship. This programme is aimed at those persons, who want to ultimately set up their own business enterprises which can benefit society substantially. PGPSE is a unique programme, as it combines industry consultancy, business solutions and case studies in addition to spirituality and social concerns. You can read the details at www.afterschoool.tk or at www.afterschool.tk
The slide is about evaluation of investment in projects before starting the project. Useful for Finance Manager, Finance Students, Entrepreneurs and Project Managers
Double entry bookkeeping states that for every debit entry there should be pass a credit entry. Every transaction has twofold effect; this concept has a result of Accounting Equation or Balance Sheet Equation or Fundamental Equation.
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SMU ASSIGNMENTS, SMU MBA ASSIGNMENTS, SMU MBA SUMMER SOLVED ASSIGNMENTS, SMU MBA FALL SOLVED ASSIGNMENT, SMU MBA SUMMER ASSIGNMENTS SEM 1, SMU MBA SEM 1 ASSIGNMENTS, SMU MBA SEM 1 SOLVED ASSIGNMENTS, SMU MBA SEM 2 SOLVED ASSIGNMENTS, SMU MBA SEM 3 SOLVED ASSIGNMENTS, SMU MBA SEM 4 SOLVED ASSIGNMENTS, SMU MBA SEM 2 ASSIGNMENTS, SMU MBA SEM 3 ASSIGNMENTS, SMU MBA SEM 4 ASSIGNMENTS, SMU MBA MODEL PAPERS
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Sub-fields of Accounting
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Book-keeping, Accounting & Accountancy
Users of accounting
also get video of this topics
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https://youtu.be/NzDaR13kCxQ
Introduction to Accountancy Part - II
https://youtu.be/2SA_vH4txWM
watch these videos to understand these topics
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1. S C H O O L O F C O M M E R C E & M A N A G E M E N T
CAREER POINT
UNIVERSITY
2. I would like to express my special thanks of gratitude to my
teacher (Pragya Bhargav Ma’am (my mentor); assistant
professor) who gave me the golden opportunity to do this
wonderful project on the topic (Trial Balance),which also
helped me in doing a lot of Research and I came to know
about so many new things I am really thankful to them.
Secondly I would also like to thank my parents who helped
me a lot in finalizing this project within the limited time
frame.
4. INTRODUCTION
Trial balance is a statement.
Prepared with the help of ledger accounts.
For checking arithmetical accuracy of the
books.
It helps in preparing financial statement.
It prepared on particular date.
5. MEANING
Trial balance is a statement,
prepared with the debit and credit
balances of ledger accounts to test
the arithmetical accuracy of the
books.
6. CHARACTERISTICS OF TRIAL BALANCE
• It just a statement, not an account.
• It is a list of all ledger accounts.
• It is neither part of double entry system, nor does it
appear in actual books of accounts. It is a just a working
paper.
• It always prepared on particular date and not for a
particular period.
• It is prepared to check arithmetical accuracy of the
ledger accounts.
• It can be prepared at any time during the particular
period such as at the end of every month, every quarter,
every half year or every year.
7. OBJECTIVES OF TRIAL BALANCE
To ascertain the arithmetical accuracy of the ledger
accounts.
To help in locating errors.
To obtain a summary of the ledger accounts.
To help in the preparation of final accounts.
8. FORMAT OF TRIAL BALANCE
Name of Accounts
L.
F.
Dr. Balance
₹
Cr. Balance
₹
Total
Trial balance of……………..
as at …………….
9. ILLUSTRATION
Name of Accounts ₹ Name of accounts ₹
Opening stock 20,000 Sales return 10,000
Purchases 80,000 Rent 2,000
Purchases return 10,000 Salaries 5,000
Furniture 1,00,000 Drawing 8,000
Machinery 50,000 Capital 1,50,000
Debtors 30,000 Cash in hand 20,000
Sales 1,60,000 Creditors 2,000
1. Prepare a trial balance from the following balances of Sh. Keshav Chand
as at 31st march, 2016 :-
10. Name of Accounts L.F.
Dr. Balance
₹
Cr. Balance
₹
Opening stock 20,000
Purchases 80,000
Purchases return 10,000
Furniture 1,00,000
Machinery 50,000
Debtors 30,000
Sales 1,60,000
Sales return 10,000
Rent 2,000
Salaries 5,000
Drawing 8,000
Capital 1,50,000
Cash in hand 20,000
Creditors 2,000
Total 3,22,000 3,22,000
Sol :- Trial Balance of Sh. Keshav Chand
as at 31st March, 2016
11. 2. From the following ledger balances prepare trial balance :-
Capital = ₹ 30,000
Rent Outstanding = ₹ 2,000
Amount due to Jyoti = ₹ 10,000
Amount due from Rahul = ₹20,000
Drawing = ₹ 5,000
Goodwill = ₹ 10,000
Purchases = ₹ 1,00,000
Sales = ₹ 1,50,000
Discount allowed = ₹ 1,000
Discount received =₹ 2,000
Land & Building = ₹ 50,000
Advertisement = ₹4,000
12. Name of Accounts
L.F
.
Dr. Balance
₹
Cr. Balance
₹
Capital 30,000
Rent outstanding 2,000
Amount due to Jyoti 10,000
Amount due from Rahul 20,000
Drawing 5,000
Goodwill 10,000
Purchases 1,00,000
Sales 1,50,000
Discount allowed 1,000
Discount received 2,000
Land & Building 50,000
Advertisement 4,000
Total 1,92,000 1,92,000
Sol. Trial Balance of ………..
as at …………
13. EXERCISE (DO IT YOURSELF)
1. From the following ledger balances prepare trial balance :-
Capital = ₹ 20,800
Creditors = ₹ 15,000
Goodwill = ₹ 12,000
Rent outstanding = ₹ 1,480
Interest received = ₹ 2,000
Discount received = ₹ 1,680
Debtors = ₹ 26,000
14. 2. Prepare a trial balance from the following balances taken as at 31st march 2016 :-
₹ ₹
Capital 2,50,000 Miscellaneous receipt 3,600
Drawings 24,000 Bad debts 7,100
Debtors 57,000 Bills receivables 5,000
Creditors 28,500 Loan from X 20,000
Land & Building 1,80,000 Interest on X’s loan 3,000
Plant 1,20,000 Cash in hand 8,400
Stock 1-4-2015 22,800 Goodwill 10,000
Factory expenses 16,600
Office expenses 7,700
Purchases return 6,000
Stationery 500
Freight 2,500
Purchases 2,15,300
Sales 3,80,000
Miscellaneous expenses 8,200
15. 3. The following is incorrect trial balance. Redraft it in a correct form :-
Trial Balance of ………….
for the year ending 31st march 2017
Name of Accounts
L.
F.
Dr. Balance
₹
Cr. Balance
₹
Sundry Debtors 12,200
Sundry Creditors 9,200
Opening stock 15,600
Purchases 53,500
Purchases return 2,100
Cash in hand 11,000
Machinery 40,200
Goodwill 10,000
Sales 86,200
Sales return 7,800
Loan from Ram 20,000
Interest on Ram’s Loan 3,000
Bill receivables 6,400
16. Continue….
Name of Accounts
L.
F.
Dr. Balance
₹
Cr. Balance
₹
Capital 57,000
Life Insurance Premium 5,600
Carriage 1,600
Advertisement 2,500
Discount received 1,500
Investment 8,000
Interest on investment 800
Total 1,77,000 1,77,000