Adjusted Trial Balance Example



An inexperienced book-keeper has drawn up an Incorrect and Unadjusted Trial Balance, You are required to Correct Trial Balance, Pass Adjusting Entries and then prepare Adjusted Trial Balance.

adjusted trial balance

 

Adjustments:                           

  1. Rent received includes a deposit of Rs. 1,000 refundable to shop-keeper when the premises are vacated (Credit Unearned rent).
  2. Out Standing Salary of manager on December 31, 2015 is Rs. 1,500.
  3. Inventory in the shop on December 31, is Rs. 60,000.
  4. Insurance Expense for the period July 1, 2015 to June 30, 2016.

Solution 1: Corrected Trial Balance

 

adjusted trial balance example

 

Solution 2: Adjusted Entries

 

an adjusted trial balance

 

Solution 3: Adjusted Trial Balance

 

what is an adjusted trial balance

 

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