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    jgcerikan's Avatar
    jgcerikan Posts: 2, Reputation: 1
    New Member
     
    #1

    Oct 18, 2013, 08:36 AM
    Trial balance questions
    Hello I am trying to balance this TB with the following transactions.
    Purchases 1500.00
    Sales 3000.00
    Sales return 43.00
    Purchases return 30.00
    Discount allowed 10.00
    Discount received 78.00
    Gas 17.00
    Rent 35.00
    Rates 39.00
    Premises 4000.00
    Furniture 490.00
    Bank balance 1890.00
    Cash 1861.00apital 40172.00
    Drawings 200.00
    Van 33000.00
    Stock at start of business 46.00
    Stock at end of business 590.00

    Thank you
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
     
    #2

    Oct 22, 2013, 06:15 AM
    Ignore year end stock and the trial balance should agree.
    jgcerikan's Avatar
    jgcerikan Posts: 2, Reputation: 1
    New Member
     
    #3

    Oct 22, 2013, 08:39 AM
    Thank you, I have taken the end of year stock out of the trial balance? But it still does not balance by £195.00

    Thank you
    Jan
    rehmanvohra's Avatar
    rehmanvohra Posts: 739, Reputation: 27
    Senior Member
     
    #4

    Oct 22, 2013, 11:41 PM
    Debits Credits

    Purchases 1500.00 Sales 3000.00
    Sales return 43.00 Purchases return 30.00
    Discount allowed 10.00 Discount received 78.00
    Gas 17.00
    Rent 35.00
    Rates 39.00
    Premises 4000.00
    Furniture 490.00
    Bank balance 1890.00
    Cash 1861.00 Capital 40172.00
    Drawings 200.00
    Van 33000.00
    Stock at start of business 46.00

    Totals 43131 43280
    Difference 149
    It seems you ignored the stock at start. (149+46=195)
    Please check your question again.
    Since debits are short, you are perhaps missing some debit item.

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