TRIAL BALANCE
CLASS 11
ACCOUNTS
NOTES
TRIAL BALANCE
It is the statement, prepared using the balances of the ledger
account to test the arithmetical accuracy of the books.
It is a list of balances of the ledger account and cash book.
The balance of the ledger account is the difference between the
total of the debit and credit side.
If Debit Credit Debit Balance
If Debit Credit Credit Balance
Dr. Cr.
Date Particular Rs Date Particular Rs
To Ram 8000 By Shyam 3000
By bal C/d 5000
8000 8000
Debit Balance
As per Double Entry System,
Every Debit Has an equal credit
Therefore the total of Debit balance in different accounts in the
ledger must be equal to the total of credit balance in different
accounts. ie.. the total of both the side of trial balance should
match.
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NOTES
TRIAL BALANCE
Note Matching of both sides of trial balance does not necessary
means 0% error.
It only ensures arithmetical correctness of posting of entries from
journal to ledger
Trial balance is not a part of double entry system.
it is only a working paper.
Prepration / Format of trial balance
Date
Trial Balance As on ......
Heads Of Account lf Debit credit
Ledger A/c Having Debit
Balance Will Pasted Here
Ledger A/c Will Credit
Balance Will Be posted here
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TRIAL BALANCE
General Balances
Debit Balance Assets, Drawing, Expenses, Loses Debtor
Credit Balance Liabilities, Capital, Income, Gain Creditors, Bills
Payable
Return Outward Purchase return Credit Balance
Return Inward Sales return Debit Balance
Input GST Debit Balance
( CGST, SGST, IGST )
Output GST
Credit Balance
( CGST, SGST, IGST )
Note
If closing Stock Appeared In trial Balance It will be on debited side
It is assumed that It has already been adjusted for purchase
In such case, It will be shown only in asset side of Balance sheet
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NOTES
TRIAL BALANCE
Illustarion 1
Prepare a Trial Balance as on 31st March, 2018 from the following
Ledger balances of Subrata Mukherjee:
Fixed Assets A/c. 2,46,000
Capital A/c 2,50,000
Debtors A/c. 20,000
Creditors A/c 22,000
Purchases A/c 35,000
Sales A/c 53,000
Returns Outward A/c. 500
Returns Inward A/c 1,000
Bills Payable A/c 4,000
Bills Receivable A/c 8,000
Bank Overdraft A/c 6,000
Opening Stock A/c 7,500
Wages A/c 6,000
Salaries A/c 9,000
Rent A/c 3,000
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TRIAL BALANCE
Illustarion 2
The Accountant of Shiv wrongly prepared the following Trial Balance.
You are required to draw the correct Trial Balance stating reasons for
the change made
Debit Balance Rs Credit Balance Rs
Opening Stock 16000 Sales 190000
Purchase 160000 Insurance premium 6000
Salaries 21000 equipment 25000
Outstanding Salaries 14000 Repairs to Building 5000
Wages 10000 Drawings 31000
wages due 9000 Sundry Receipts 15000
Building 100000 Bank Overdraft 93000
Plant 80000 Ground rent 8000
Interest received 2000 Return Inwards 16000
Advertisement 12000 Capital 200000
Outstanding expenses 17000 Investment 44000
Dep. On Plant 8000
Prepaid Expenses 10000
Return Outwards 12000
Closing stock 162000
6,33,000 6,33,000
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