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Trial Balance Assignment

Amarpali Ltd provides hair care services. Their February 2011 accounts show equipment with a debit of Rs 8,900 and credit of Rs 1,900. In March, they paid salaries of Rs 500, rent of Rs 300, and received a payment of Rs 1,010 from an earlier customer. They also bought supplies for Rs 320 in cash, hired an assistant for Rs 1,000 per month, and paid an insurance premium of Rs 540 for April to December 2011.

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Ravi Bodh
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197 views2 pages

Trial Balance Assignment

Amarpali Ltd provides hair care services. Their February 2011 accounts show equipment with a debit of Rs 8,900 and credit of Rs 1,900. In March, they paid salaries of Rs 500, rent of Rs 300, and received a payment of Rs 1,010 from an earlier customer. They also bought supplies for Rs 320 in cash, hired an assistant for Rs 1,000 per month, and paid an insurance premium of Rs 540 for April to December 2011.

Uploaded by

Ravi Bodh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Q-1

Amarpali ltd provides hair care services,The Balance of accounts at the end of Feb 2011 is as follows.

Account Debit Credit


Equipment 8900 1900
Accounts receivable 2030 -1010 430
Cash 6040 -500 -300
Supplies 3150 320 500
Creditors 970 1900 -635
Salaries payable 500 -500
Bank Loan 5000
Share capital 10000
Retained Earnings 1510
Dividend 1915 1000
Revenue from Services 7490 430 600
Electricity Expenses 370 125
Rent Expenses 600 300
Salaries expenses 2400
Telephone expenses 65
Insurance Prepaid 540
Advance Income 715 -600
During March the company had following transactions.
1 Paid salaries payable for februrary Rs 500
2 Paid rent for the month RS 300
3 Received Payment from customer billed earlier 1010.
4 Bought supplies foe cash for 320
5 Appointed an assistant on a monthly salary of Rs 1000
7 Paid insurance premium Rs 540 from April to Dec 2011.
8 Rececived cash for services to be provided Rs 715.
9 Bought Equipments on credit for 1900
13 Paid for supplies bought on credit last month Rs 635
16 Bought supplies on credit Rs 500
18 Returned some of the defective supplies for Rs 100 boughght on March 16
20 Billed customers for services provided Rs 430
27 Paid electricity exp for the month Rs 125
29 Provided part services for cash received on March 8 Rs 600
30 Paid Creditors on account of equipment purchased on March 9 Rs 950
31 Paid dividend Rs 1000
Debit Credit
10800
1450
1010 -320 -540 715 -635 -125 -1000 -950 3395
-100 3870
500 -100 -950 1685
0
5000
10000
1510
2915
8520
495
900
2400
65
540
115
TOTAL 26830 26830

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