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Prepare trial balance by using totals method for the given data
Refer the data given below −
Name of account | Amount (in rupees) | Name of account | Amount (in rupees) |
---|---|---|---|
Cash (debit) | 25000 | Supplies | 1600 |
Accounts receivable | 7000 | Revenue fee | 15500 |
Accounts payable (debit) | 5600 | Note payable | 8200 |
Revenue (unearned) | 4400 | Common stock | 10500 |
Furniture and fitting | 3500 | Machinery | 6000 |
Cash (Credit) | 6500 | Account payable (credit) | 3600 |
Solution
Given below is the trial balance by using totals method −
ABC ltd 28/02/2001 | ||||
---|---|---|---|---|
Sl.No | Name of Account | Ledger folio | Balance | |
debit | Credit | |||
1 | Cash | 25000 | 6500 | |
2 | Supplies | 1600 | ||
3 | Accounts receivables | 7000 | ||
4 | Revenue (Fee) | 15500 | ||
5 | Account payable | 5600 | 3600 | |
6 | Note payable | 8200 | ||
7 | Unearned revenue | 4400 | ||
8 | Common stock | 10500 | ||
9 | Furniture and fitting | 3500 | ||
10 | Machinery | 6000 | ||
Total | 48700 | 48700 |
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