Vihaan runs a departmental store called Dawn Departmental Shop in Chamba town of Himachal Pradesh, India. The business was handed over to him by his farther Mr. Gautham after deciding to retire. Vihaan is Young and energetic graduate in commerce, and also holds a business degree in managing small and medium enterprises. Within two years of his joining the firm registered an annual growth of 20%. With this business success, he decided to purchase a small land nearby his ship building and for this purpose he approached the bank nearby. The bank manager, Mr. Rashid Ahmad asked him to furnish a statement of financial position. For this purpose, Vihaan arranged interviews for filling up the position of an accountant. Suma Koshy had applied and selected for the same and Vihaan handed over the following information to her, requesting her to do the needful- Assume yourself as Suma Koshy and answer the following questions- i) Prepare Trial Balance from the given details and inform Vihaan regarding the matching of the Trial Balance. ii) If a trial balance tallies, can it be concluded that there is no error? Justify with reason.
Vihaan runs a departmental store called Dawn Departmental Shop in Chamba town of Himachal
Pradesh, India. The business was handed over to him by his farther Mr. Gautham after deciding
to retire.
Vihaan is Young and energetic graduate in commerce, and also holds a business degree in
managing small and medium enterprises. Within two years of his joining the firm registered an
annual growth of 20%. With this business success, he decided to purchase a small land nearby
his ship building and for this purpose he approached the bank nearby. The bank manager, Mr.
Rashid Ahmad asked him to furnish a
arranged interviews for filling up the position of an accountant. Suma Koshy had applied and
selected for the same and Vihaan handed over the following information to her, requesting her to
do the needful-
Assume yourself as Suma Koshy and answer the following questions-
i) Prepare
Trial Balance.
ii) If a trial balance tallies, can it be concluded that there is no error? Justify with reason.
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