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The following trial balance has been prepared by an inexperienced accountant. Redraft it in a correct form :− Name of Accounts Balance Dr. Balance Cr. ₹ ₹ Land and Building 1,20,000 Plant and Machinery 92,000 Wages 18,200 Discount Allowed 1,620 Discount Received 730 Purchases 1,26,000 Sales 2,40,000 Return Inwards 6,500 Return Outwards 3,370 Opening Stock 15,000 Debtors 30,000 Creditors 20,000 Carriage on Sales 3,280 Carriage on Purchase 2,800 Insurance 1,500 General Expenses 6,100 Cash in Hand 2,400 Bank Overdraft 12,100 Capital 1,54,000 Drawings 4,800 Total 4,30,200 4,30,200

Answer» The following trial balance has been prepared by an inexperienced accountant. Redraft it in a correct form :−






















































































































Name of Accounts Balance

Dr.
Balance


Cr.
₹ ₹
Land and Building 1,20,000
Plant and Machinery 92,000
Wages 18,200
Discount Allowed 1,620
Discount Received 730
Purchases 1,26,000
Sales 2,40,000
Return Inwards 6,500
Return Outwards 3,370
Opening Stock 15,000
Debtors 30,000
Creditors 20,000
Carriage on Sales 3,280
Carriage on Purchase 2,800
Insurance 1,500
General Expenses 6,100
Cash in Hand 2,400
Bank Overdraft 12,100
Capital 1,54,000
Drawings 4,800
Total 4,30,200 4,30,200


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