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Q
Q. No. 1: There are several Mistakes in the Umer & Brothers (Pvt.) Ltd. Trial Balance. You are requested to identify Errors and make corrected Trial Balance? S. No Ref Debit Credit 1,551 2 560 2.850 3 4 2.850 5 530 6 1.260 7 364 Heads of Accounts Umer Owner Equity Umer Drawings Equipments Sales Due from Customers Purchases Purchase Return Bank Loan Creditors Taxes Cash in Hand Note Payable Inventory Repair Return Inward 8 996 9 528 720 10 11 226 12 680 13 264 14 461 15 98 Total Rs. 7,649 Rs. 6,289
Expert Solution
TRIAL BALANCE OF UMER & BROTHERS PVT LTD
S.NO HEADS OF ACCOUNTS REF DEBIT CREDIT
1 UMER OWNER EQUITY 1551
2 UMER DRAWINGS 560
3 EQUIPMENTS 2850
4 SALES 2850
5 DUE FROM CUSTOMER 530
6 PURCHASES 1260
7 PURCHASE RETURN 364
8 BANK LOAN 996
9 CREDITORS 528
10 TAXES 720
11 CASH IN HAND 226
12 NOTES PAYABLE 680
13 INVENTORY 264
14 REPAIR 461
15 RETURN INWARD 98
TOTAL 6969 6969
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