The follow ing are balances of Muhire Trading: Frw Drawings 74,800 Purchases 295,700 Stock (1 04 2011) 30,000 Bills receivable 52,500 Capital 250,000 Furniture 33,000 Discount allowed 950 Sales 335,350 Rent 72,500 Freight 3,500 Printing charges 1,500 Sundry creditors 75,000 Insurance 2,700 Sundry expenses 21,000 Discount received 1,000 Bank loan 120,000 Stock (31.032012) 17,000 Income tax 9,500 Machinery 215,400 Bills payable 31,700 Muhire Trading Trial Balance as on 31.03.2018 will be totaling?
The follow ing are
Under the process of accounting, first of all recording of transaction takes place in the general journal and then these transactions are clubbed together on the basis of their nature in separate accounts and then on the basis of these ledgers, trial balance is prepared.
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