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Long answer questions of trial balance
Long answer questions are the best collection of long answer type and analytical problems.
Questions are set to understand entire chapter of trial balance.
Students and learners are suggested to solve first brief answer type questions; then solve short answer questions; then long answer type questions.
First, starts to study and practice from beginning of the chapter; after that, if you feel something is confusion you should comment on comment box without any hesitation
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PROBLEMS AND ANSWERS |
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 1
Prathit Trading Concern has following extracted ledger balance for the year 2020:
Plant and machinery |
96,000 |
Provision for bad debts |
1,500 |
Cash |
10,600 |
Capital |
1,15,000 |
Sundry debtors |
1,10,500 |
Income tax |
160 |
Stock |
28,800 |
Insurance |
1,500 |
Sales |
2,75,000 |
Discount on sales |
1,500 |
Discount on purchases |
1,200 |
Repairs to plant |
480 |
Wages and salary |
9,600 |
Sundry creditors |
7,000 |
Custom duty |
1,500 |
Bills payable |
4,700 |
Purchase |
1,36,000 |
Travelling expenses |
2,160 |
Returns inward |
300 |
Drawings |
1,500 |
Advances salary |
3,800 |
|
|
[Answer: TB = 404,400]
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Click on link for YouTube videos: |
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Basic Journal Entries in Nepali |
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Basic Journal Entries |
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Journal Entry and Ledger |
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Ledger |
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Subsidiary Book |
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Cash Book |
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Trial Balance & Adjusted Trial Balance |
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Final Accounts |
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Government Accounting |
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Goswara Voucher (Journal Voucher) |
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Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 2
AK Traders has following extracted ledger balance for the year 2020:
Purchases |
5,50,000 |
Discount |
4,000 |
Opening stock |
3,20,000 |
Advertisements |
5,000 |
Carriage inward |
6,000 |
Salaries |
55,000 |
Sales |
6,60,000 |
Purchase return |
10,000 |
Carriage outward |
8,000 |
Interest |
4,000 |
Sales return |
12,000 |
Bills receivable |
8,000 |
Prepaid insurance |
5,000 |
General expenses |
5,000 |
Debtors |
48,000 |
10% bank loan |
80,000 |
Capital |
4,00,000 |
Creditors |
30,000 |
Wages |
95,000 |
Furniture |
20,000 |
Cash and bank |
25,000 |
Rent |
20,000 |
[Answer: TB = 11,90,000]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 3
AS Trading Concern has following extracted ledger balance for the year 2020:
Furniture and fitting |
7,000 |
Sales |
155,000 |
Bills receivable |
10,000 |
Return outward |
2,000 |
Sundry debtors |
78,000 |
Advance insurance |
1,000 |
Cash in hand |
5,000 |
Opening stock |
38,000 |
Interest paid |
3,000 |
Audit fees |
1,000 |
Capital |
600,000 |
Law charge |
2,000 |
Commission received |
9,000 |
Machinery |
200,000 |
Wages |
27,000 |
Bank overdraft |
10,000 |
Goodwill |
25,000 |
Creditors |
25,000 |
Carriage outward |
1,000 |
Drawing |
13,000 |
Salaries |
25,000 |
Purchase |
62,000 |
Repairs |
3,000 |
Land and building |
300,000 |
[Answer: TB = 801,000]
Here, Amount = Rs = $ = £ = € = ₹ = Af = ৳ = Nu = Rf = රු = Currency of your country
PROBLEM: 4
EP Trading Concern has following extracted ledger balance for the year 2020:
Land |
5,00,000 |
Overdraft |
18,000 |
Plant and machinery |
5,60,000 |
Bills payable |
45,000 |
Cash |
7,000 |
Insurance |
15,000 |
Sundry debtors |
1,04,000 |
Discount on sales |
15,000 |
Stock |
2,88,000 |
Drawings |
15,000 |
Capital |
9,00,000 |
Advance salary |
40,000 |
Sales |
10,00,000 |
Sundry creditors |
1,00,000 |
Wages |
1,00,000 |
Provision for bad debts |
15,000 |
Railway charge |
11,000 |
Discount on purchase |
12,000 |
Purchase |
4,00,000 |
Interest on overdraft |
600 |
Return inward |
3,000 |
Godown rent paid |
10,000 |
Income tax |
5,600 |
Travelling expenses |
11,000 |
Repair to plant |
4,800 |
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[Answer: TB = 20,90,000
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