Trial Balance Examples

Example # 1:

Make Trial Balance from mixed transactions for Iram Shehzadi Ltd at year-end (June 30th, 2016):

Iram Shehzadi Ltd
Accounts
As on June 30th, 2016
Description	Amount	Description	Amount	Description	Amount
Account Payable	$ 200	Owner Equity	$ 300	Land	$ 200
Account Receivables	350	Cost of Goods Sold	820	Long-term Debts	1,300
Accrued Liabilities	150	Dep. Expense	110	Prepaid Expenses	40
Acc. Depreciation	250	Interest Expense	80	Salaries Expense	660
Building	1,400	Unearned Revenue	130	Sales Revenue	2,400
Cash	120	Interest Revenue	50	Rent Expense	400
Income Tax Expense	110	Inventories	610	Retained Earning	120

 

Solution:

 

Iram Shehzadi Ltd
Trial Balance
As on June 30th, 2016
S.N	Description	Ref	Amount ($)
			Dr.	Cr.
1	Account Payable			200
2	Account Receivables		350
3	Accrued Liabilities			150
4	Acc. Depreciation			250
5	Building		1,400
6	Cash		120
7	Income Tax Expense		110
8	Owner Equity			300
9	Cost of Goods Sold		820
10	Dep. Expense		110
11	Interest Expense		80
12	Unearned Revenue			130
13	Interest Revenue			50
14	Inventories		610
15	Land		200
16	Long-term Debts			1,300
17	Prepaid Expenses		40
18	Salaries Expense		660
19	Sales Revenue			2,400
20	Rent Expense		400
21	Retained Earning			120
Total			4,900	4,900

 

Example # 2:

Correct following Trial Balance for Hareem Mehdi at end of December, 2017:

 

Hareem Mehdi

 Trial Balance

As on December 31, 2017

S.No	Heads of Accounts	Ref	Amount ($)
			Dr	Cr
1	Ahmed Owner’s Equity			1,556
2	Ahmed Drawing		564
3	Leasehold Premises		750
4	Sales			2,750
5	Due from Customer			530
6	Purchases		1,259
7	Purchases Return		264
8	Loan from Bank			256
9	Creditors		528
10	Trade Expenses		700
11	Cash		226
12	Bill Payable		100
13	Salaries and Wages		600
14	Stock Opening			264
15	Rent and Rates		463
16	Sales Return			98
Total			$ 5,454	$ 5,454

Solution: 

 

Hareem Mehdi

 Trial Balance

As on December 31, 2017

 

S.No	Heads of Accounts	Ref	Amount ($)
			Dr	Cr
1	Ahmed Owner’s Equity			1,556
2	Ahmed Drawing		564
3	Leasehold Premises		750
4	Sales			2,750
5	Due from Customer		530
6	Purchases		1,259
7	Purchases Return			264
8	Loan from Bank			256
9	Creditors			528
10	Trade Expanses		700
11	Cash		226
12	Bill Payable			100
13	Salaries and Wages		600
14	Stock Opening		264
15	Rent and Rates		463
16	Sales Return		98
Total			$ 5,454	$ 5,454

 

Example # 3:

Prepare Trial Balance as on 31.12.2016 from the following balances of Mr. Muhammad Nizakat Khan.

Capital   $ 340,000     Note Receivable $ 5,800      Creditor $ 13,000                Sales Returns $ 3,400

Drawings $ 4,000       Purchases Return $ 2,400     Salaries $ 38,200               Carriage inwards $ 1,400

Purchases $ 94,000     Printing & Stationery $ 5,000      Bills Payable $ 7,000    Stock $ 29,900

Debtors $ 16,000        Machinery $ 50,000       Sales $ 144,000        Wages $ 5,000

Insurance $ 2,200        Rent $ 1,600      Land $ 250,000    Interest received $ 1,700

Electricity $ 2,400               Commission received $ 800

 

Solution: 

Muhammad Nizakat Khan
Trial Balance
As on 31st  December, 2016
S. No	Heads of Accounts	Ref	Amount ($)
			Dr	Cr
1	Capital			340,000
2	Note Receivable		5,800
3	Creditor			13,000
4	Sales Returns		3,400
5	Drawings		4,000
6	Purchases Return			2,400
7	Salaries		38,200
8	Carriage inwards		1,400
9	Purchases		94,000
10	Printing & Stationery		5,000
11	Bills Payable			7,000
12	Stock		29,900
13	Debtors		16,000
14	Machinery		50,000
15	Sales			144,000
16	Wages		5,000
17	Insurance		2,200
18	Rent		1,600
19	Land		250,000
20	Interest received			1,700
21	Electricity		2,400
22	Commission received			800
Total			$ 508,900	$ 508,900

 

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