Record the exchanges in books of records

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One of your customers, X has approached you to finish his records for the year finished March 31, 2009. Till date, he himself has recorded the exchanges in books of records. As a premise for review, X outfitted you with the accompanying proclamation. 

Dr. Balance

Cr. Balance

X’s Capital 

1,556

X’s Drawings

564 

Leasehold premises

750 

Sales 

2,750

Due from customers 

530

Purchases

1,259

 Purchases return

264 

Loan from bank 

256

Creditors

528 

Trade expenses

700 

Cash at bank

226 

Bills payable 

100 

Salaries and wages

600 

Stock (1.4.2008) 

264

Rent and rates

463 

Sales return   

98

5,454

5,454

The end stock on March 31, 2009 was esteemed at Rs. 574. X guarantees that he has recorded each exchange accurately as the trial parity is tallied. Check the exactness of the above trial equalization.

Reference no: EM13904037

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