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what is trail balance ?
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Answer Posted / bhaskar.d
It is a statement showing closing debit and credit balances
of all ledger in double entry book keeping, purpose to test
equality in balances
| Is This Answer Correct ? | 7 Yes | 4 No |
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The Analysis of flow of funds through an organization can be very useful to the managment. Elucidate
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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