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Prepare horizontal balance sheet for the following trial balance.
| Dr. ($) | Cr. ($) | |
|---|---|---|
| Premises | 26000 | |
| Furniture | 14000 | |
| Vehicles | 7000 | |
| Inventory | 3000 | |
| Bank | 5300 | |
| Capital | 45000 | |
| Loan from bank | 8000 | |
| Trade receivables | 1500 | |
| Trades payables | 2800 | |
| Net profit | 10000 | |
| Drawings | 9000 | |
| 65800 | 65800 |
Solution
The solution is given below −
| Balance sheet of a company As on 31st March XXXX | |||||
|---|---|---|---|---|---|
| Non-current assets | $ | $ | Liabilities and capital | $ | $ |
| Premises | 26000 | Capital | 45000 | ||
| Furniture | 14000 | Net profit | 10000 | ||
| Vehicles | 7000 | 55000 | |||
| 47000 | Drawings | (9000) | 46000 | ||
| Current assets | Non-current liabilities | ||||
| Inventory | 3000 | Loan from bank | 8000 | ||
| Trade receivables | 1500 | ||||
| Bank | 5300 | Current liabilities | |||
| 9800 | Trade payables | 2800 | |||
| 56800 | 56800 | ||||
Updated on: 13-Aug-2020
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