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Querist : Anonymous

Querist : Anonymous (Querist)

20 October 2013 a started business with $20,000 cash and $11,000 stock.cash sales and cash purchases were $10,000 and $5,000. total sales and purchases amounted to $70,000 $50,000. outstanding creditors were $15,000 and debtors $25,000 .expenses paid $17,000.machine was purchased for $10,000 out of which $8,000 has been paid.trial balance total will be:

answer: $1,18,000

how?
its a bit tricky?
can anyone solve this?
pls!

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

20 October 2013 Analyse the every transaction effect and findout the balance of each ledger answer is correct

Debit balances

Cash $ 5000 + Stock $ 11000 + Purchase $ 50000 + Debtors $ 25000 + Expenses $ 17000 + Machinery $ 10000

Credit balances

Capital $ 31000 + Sales $ 70000 + Creditor $ 15000 + Creditors for machinery $ 2000

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