djusted trial balance of S and J Traders is given below:
Particulars
Capital
Creditors
Goodwill
Rent
Salary
Sales
Purchases
Opening stock
Commission
Debit (Rs.)
Credit (Rs.)
50,000
10,000
65,000
8,000
10,000
80,000
30,000
37,000
10,000
Total
1,50,000
1,50,000
Additional information:
i) Prepaid rent Rs. 1,000.
ii) Outstanding salary Rs. 2,000.
iii) Goodwill written of at 10% annual.
Required: Adjusted Trial Balance
(5)



Answer :

Answer:

Adjusted Trial Balance:

Particulars Debit (Rs.) Credit (Rs.)

Capital 50,000

Creditors 10,000

Goodwill 58,500

Rent 7,000

Salary 12,000

Sales 80,000

Purchases 30,000

Opening stock 37,000

Commission 10,000

Prepaid rent 1,000

Outstanding salary 2,000

Total 1,27,000 1,27,000

Explanation:

Goodwill written off: Rs. 65,000 * 10% = Rs. 6,500

Goodwill after writing off: Rs. 65,000 - Rs. 6,500 = Rs. 58,500