Q. No. 2. Prepare Trial Balance as on 31.03.2012 from the following balances of Ms. Maliha Afzal Inc: (10) Drawings Rs.

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Q. No. 2. Prepare Trial Balance as on 31.03.2012 from the following balances of Ms. Maliha Afzal Inc: (10) Drawings Rs. 74,800 Bill receivable Rs. 52,500 Discount allowed Rs. 950 Freight Rs. 3,500 Insurance Rs. 2,700 Bank loan Rs. 120,000 Capital Rs. 250,000 Furniture Rs. 33,000 Sales Rs. 335,350 Sundry creditors 75,000 Discount received Rs. 1,000 Stock (31.03.2012) Rs. 17,000 Bills payable Rs. 31,700 Purchases Rs. 295,700 Stock (1.04.2011) Rs. 30,000 Rent Rs. 72,500 Printing charges Rs. 1,500 Sundry expenses Rs. 21,000 Income tax Rs. 9,500 Machinery Rs. 215,400

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Ms. Maliha Afzal Inc. Trial Balance as on 31.03.2012 Particulars Dr. Cr. Rs. Rs. Drawing 74,800 - Bill Receivable 52,500 - Discount allowed 950 - Freight 3,500 - Insurance 2,700 - Bank Loan - 1,20,000 Machinery 2,15,400 - Capital - 2,50,000 Furniture 33,000 - Sales - 3,35,350 Sundry Creditors - 75,000 Discount recived - 1,000 Bills Payable - 31,700 Purchase 2,95,700 - Stock (Opening) 30,000 - Rent 72,500 - Printing Charges 1,500 - Sundry expenses 21,000 - Income tax 9,500 - Total 8,13,050 8,13,050 Notes: (1) All debit balance of a ledger should be debit and all credit balance of a ledger should be credit under trial balance. All expense and assets to be debit and all income and liabilities including capital should be credit in balance sheet. (2) Stock at 31.03.2012 is closing inventory, which is an event of opening plus purchase less cost of sales, which is not to be reported under trial balance, it is shown under asets of balance sheet.

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Ms. Maliha Afzal Inc.
Trial Balance as on 31.03.2012
Particulars	Dr.	Cr.
	Rs.	Rs.
Drawing	74,800	-
Bill Receivable	52,500	-
Discount allowed	950	-
Freight	3,500	-
Insurance	2,700	-
Bank Loan	-	1,20,000
Machinery	2,15,400	-
Capital	-	2,50,000
Furniture	33,000	-
Sales	-	3,35,350
Sundry Creditors	-	75,000
Discount recived	-	1,000
Bills Payable	-	31,700
Purchase	2,95,700	-
Stock (Opening)	30,000	-
Rent	72,500	-
Printing Charges	1,500	-
Sundry expenses	21,000	-
Income tax	9,500	-
Total	8,13,050	8,13,050

Notes:
(1) All debit balance of a ledger should be debit and all credit balance of a
ledger should be credit under trial balance. All expense and assets to be
debit and all income and liabilities including capital should be credit in
balance sheet.

(2) Stock at 31.03.2012 is closing inventory, which is an event of opening plus
purchase less cost of sales, which is not to be reported under trial balance, it
is shown under asets of balance sheet.