Problem 1:

An inexperienced book-keeper has drawn up an Incorrect and Unadjusted Trial Balance, You are required to Correct Trial Balance, Pass Adjusting Entries and then prepare Adjusted Trial Balance:

Adjustments:

1. Salary Payable on December 31, 2016 is Rs. 1,500

2. Depreciation on Furniture charged to 10% by cost method

3. Inventory on hand on December is Rs. 60,000

4. 30,000 of Sales Account is unearned

Solution 1: Unadjusted Trial Balance

Solution 2: Adjusted Entries

trial balance questions and answers pdf