Account 9

ii. The heading of a trial balance should be mentioned on the top middle of the
page.

“Trial Balance of ................. Co.
As on .........................”

iii. The table having five different columns should be drawn, the first is of “S. No.”
i.e. serial Number. The S. No. continues as 1, 2, 3, 4, 5, ...... and so on according
to the number of ledger heads.

iv. A trial balance can be prepared on the basis of total figures or balance figures
of the ledger accounts. Thus, the debit and credit totals of the ledgers should be
determined along with the balancing of the accounts.

v. The ledger accounts should be mentioned along with their serial number so as
to facilitate the counting. It helps to find out whether or not any ledger account
is omitted.

vi. The respective ledger page number of the accounts should be mentioned if any
in the L.F. column to facilitate the reference of the required ledger.

vii. All assets, expenses and losses have debit balances and so they are to be debited
in trial balance. Capital, liabilities, incomes and gains have credit balances and
thus are to be credited in it.

Dr. = All assets, expenses and losses
Cr. = All capital, liabilities, incomes and gains

viii. After mentioning all the ledger accounts in the trial balance, its debit and credit
sides should be separately totalled to see whether or not they are equal.

ix. When the two totals of a trial balance are equal, it is supposed that the books of
account are arithmetically accurate; otherwise the books of accounts should be
thoroughly revised as far as possible to locate the arithmetic errors.

x. When the errors cannot be detected, and there it becomes a problem to proceed
onward for the preparation of final accounts. In such a case, an account called
a ‘suspense account’ is opened for the adjustment of the trial balance. The
suspense account is opened for that side where there’s a shortage of amount
and totals are made equal and proceeded onward to prepare final accounts.
After finding the errors, errors are to be detected and corrected by passing
journal and suspense account is removed from the trial balance.

6. Accounting Errors in Trial Balance

There may be some unintentional and sometimes intentional errors committed
by the accounting staff or by management in the process of book-keeping and
accounting. Such mistakes are known as book-keeping errors or accounting errors.

Trial Balance 251

The accounting errors have been classified into two broad categories from trial
balance point of view. They are: (i) errors that can be disclosed by a trial balance and
(ii) errors that cannot be disclosed by a trial balance. Each of them is discussed below.

A. Errors Disclosed by a Trial Balance

When the two sides of trial balance fail to agree, the books of account are not
regarded as arithmetically accurate. The debit and credit totals of a trial balance do
not agree because of some errors and the disagreement of its two totals locates the
arithmetical errors. Hence, the following errors can be disclosed by a trial balance by
means of the disagreement of the two side totals:

i. Errors of wrong totalling of subsidiary books.
ii. Error of posting on the wrong side of a ledger in over or under-casting an

amount while posting into ledger.
iv. Errors of double posting in one side of a ledger.
v. Errors of omission of posting on one side of a ledger.
vi. Errors of totalling and balancing the account in the trial balance.
vii. Omission of any ledger account in the trial balance.
viii. Errors of mentioning the balance of any ledger in the wrong side of trial balance.
ix. Errors in the totalling of the trial balance itself.

B. Errors not Disclosed by Trial Balance

The agreement of a trial balance proves only the arithmetic accuracy of the books
of account. Thus, it should not be taken as the conclusive proof of the entire accuracy
because there are still some errors which remain unaffected by the agreement of trial
balance. Such errors are known as errors not disclosed by trial balance. They are as
given below:

i. Errors of Omission

If a transaction is not recorded in the book of original entry, both the debit and
credit aspects of the transaction will be omitted. This error will not affect the trial
balance. For example, if goods sold to Dahal Bros. of Rs. 6,000, is not recorded in the
books at all, i.e. neither debited in Dahal Bros. A/c nor credited in sales A/c, it will
not affect the totals of the trial balance. It is because there’s omission of Rs. 6,000 on
both sides. Thus, this type of error cannot be disclosed by a trial balance.

ii. Errors of Commission

It is the committed error. This type of error takes place when an imaginary
transaction is entered in the original book of account or when wrong amount is posted
in both of the accounts. It will not make any difference in the totalling of trial balance.
For example, when an unreal transaction of any value is entered in the original book,

252 Aakar’s Office Practice and Accountancy - 9

it increases both the sides of the trial balance with the same amount and do not create
the disagreement. The mentioning of wrong amount of a transaction in the original
book is also an error of commission, e.g. payment of salary Rs. 5,300 may be entered
in the original book in as Rs. 3,500 in both sides. Similarly, the under-casting of any
expense or over/under-casting of any income, etc. cannot be revealed by the trial
balance.

iii. Compensating Errors

When the effect of one error is neutralised by the effect of another error, such
an error is called compensating error. For example, forgetting to post Rs. 5000 on
the debit side of certain account may be compensated/neutralised by under casting
Rs. 5000 on the credit side of the same or another account. Since the first error is
neutralised by second error, it does not affect the trial balance in numerical total and
thus such errors cannot be revealed by a trial balance.

iv. Errors of Principle

When the fundamental principle of accountancy has not been followed while
recording a business transaction, it is to be an error of principle. Such an error occurs
when an expense is treated as asset or an asset as expense or an income as liability
or a liability as an income, etc. Similarly, it occurs, when an account to be debited is
credited and vice versa. For example, when salary A/c is credited and cash A/c is
debited for the payment of salary, it is said to be an error of principle. This does not
affect the totals of trial balance because the amount is allocated to both sides to the
same extent. Thus, the trial balance cannot disclose such type of errors.

v. Errors of Posting in the Wrong Account

It is posting of any transaction made in the wrong account but in the correct side,
the errors will not affect the total balance of trail balance. For example, machinery
purchased from Suman for Rs. 10,000 is credited to Raman account in the ledger. In
this case, trail balance will agree but it is error.

7. List of Possible Items Shown in Trial Balance

S.N. Particulars L.F. Debit Credit Reasons
amount amount
1 Opening stock
2 Purchase ×××× Assets
3 Sales return
4 Traveling expenses ×××× Expenses
5 Cash
×××× Decrease in sales

×××× Expenses

×××× Assets

Trial Balance 253

6 Bank ×××× Assets
7 Commission expenses ×××× Expenses
8 Bad debt ×××× Loss
9 Wages ×××× Expenses
10 Rent ×××× Expenses
11 Salary ×××× Expenses
12 Allowance ×××× Expenses
13 Land & building ×××× Assets
14 Machinery and plant ×××× Assets
15 Furniture ×××× Assets
16 Motor ×××× Assets
17 Adm. & office expenses ×××× Expenses
18 Patent ×××× Assets
19 Bills receivable ×××× Assets
20 Investment ×××× Assets
21 Depreciation ×××× Expenses
22 Custom, tax &fees ×××× Expenses
23 Debtor ×××× Assets
24 Interest expenses ×××× Expenses
25 Insurance & Advertisement ×××× Expenses
26 Phone & post expenses/electricity ×××× Expenses
27 Printing, transportation & fuel ×××× Expenses
28 Capital Capital
29 Purchase return ×××× Decrease in
×××× purchase
30 Sales Revenue
31 Interest received ×××× Income
32 Bank overdraft ×××× Liabilities
33 Commission received ×××× Income
34 Rent received ×××× Income
35 Discount received ×××× Income
36 Creditor ×××× Liabilities
××××

254 Aakar’s Office Practice and Accountancy - 9

37 Loan and bills payable ×××× ×××× Liabilities
38 Reserves ×××× ×××× Liabilities
39 Advance income ×××× ×××× Liabilities
40. Carriage inward ×××× Expenses
41. Import / excise duty ×××× ×××× Expenses
42. Royalties ×××× ×××× Expenses
43. Cartage ×××× ×××× Expenses
44. Motive power ×××× ×××× Expenses
45. Audit fees ×××× ×××× Expenses
46. Legal charges ×××× ×××× Expenses
47. Sampling expenses ×××× ×××× Expenses
48. Discount ×××× Expenses
49. Commission ×××× Expenses
50. Export duty ×××× Expenses
51. Repair & maintenance ×××× Expenses
52. Charity donation ×××× Expenses
53. Bank charge ×××× Expenses
54. Sales tax ×××× Expenses
55. Brokerage Expenses
56. Loss by incident ×××× Loss
57. Drawings ×××× Decrease in
×××× capital
58. Prepaid expenses Assets
59. Goodwill ×××× Assets
60. Accrued income Assets
61. Bad debt recovered Income
62. Apprenticeship premium Income
63. Income from investment Income
64. Dividend received Income
65. Miscellaneous receipts Income
66. Outstanding expenses Liabilities
Total

Trial Balance 255

8. Illustrative Problems and Solutions

Illustration 1

From the following balances taken from the books of Sanokaji & Co. as on 31st
Ashwin, 075, prepare a trial balance.

Heads of account Amount (Rs) Heads of account Amount (Rs)

Cash 10,000 Commission paid 150
Sundry debtors 20,000
Salaries & wages 21,600 Purchases 3,000
Capital 5,000
Sales 2,700 Carriage inward 6,000
Freight 2,000
Discount earned 50,000 Sundry creditors 9,000
Furniture 27,000
48,500 Drawings

4,000 Return outwards

450 Bank

2,500 Machinery

Solution:

Trial Balance of Sanokaji & Co, as on 31st Ashwin, 075

S.No Particulars L.F. Dr. Balance Cr. Balance
1 Cash
2 Sundry debtors 10,000 -
3 Salaries & wages
4 Capital 21,600 -
5 Sales
6 Freight 2,700 -
7 Discount earned
8 Furniture - 50,000
9 Commission paid
10 Purchases - 48,500
11 Carriage inward
12 Sundry creditors 4,000 -
13 Drawings
14 Return outwards - 450
15 Bank
16 Machinery 2,500 -

Total: 150 -

20,000 -

3,000 -

- 5,000

6,000 -

- 2,000

9,000 -

27,000 -

1,05 950 1,05,950

256 Aakar’s Office Practice and Accountancy - 9

Illustration - 2

The following balances were extracted from the books of Bharatmani Bros. as on
31st Kartik, 075, prepare a trial balance:

Heads of account Balance (Rs) Heads of account Balance (Rs)

Capital 60,000 Discount allowed 600
Business premises 35,000 Wages 17,000
Furniture & fixtures 13,500 Insurance & rates 1,200
Plant and machinery 46,000 Sundry creditors 22,000
Purchases 78,000 Sundry debtors 34,000
Sales 1,30,000 Drawings 3,000
Return inwards 1,500 Bills payable 4,000
Return outwards 2,000 Cash in hand 1,500
Carriage inward 1,400 Bank overdraft 15,300
Carriage outward 1,100 Commission received
500

Solution:

Trial Balance of Bharatmani Bros, as on 31st Ashwin, 075

S.N. Particulars L.F. Dr. Cr. Balance
Balance
1 Capital
2 Business premises - 60,000
3 Furniture & fixtures 35,000 -
4 Plant and machinery 13,500 -
5 Purchases 46,000 -
6 Sales 78,000 -
7 Return inwards
8 Return outwards - 1,30,000
9 Carriage inward 1,500 -
10 Carriage outward
11 Commission received - 2,000
12 Discount allowed 1,400 -
13 Wages 1,100 -
14 Insurance & rates
15 Sundry creditors - 500
16 Sundry debtors 600 -
17 Drawings 17,000 -
18 Bills payable 1,200 -
19 Cash in hand
20 Bank overdraft 34,000 22,000
3,000 -
Total -
-
1,500 4,000
-
-
15,300

2,33,800 2,33,800

Trial Balance 257

Illustration - 3

From the following balances, prepare a trial balance as on 30th Bhadra, 075, in the
books of LNS Co. Pvt. Ltd.

Heads of account Balance (Rs) Heads of account Balance (Rs)

Bills receivables 13,000 Capital 60,000
Rent 22,000
Opening stock 7,000 Debtors 20,000
Building 12,000
Loan 5,500 Creditors 58,000
Purchases 13,000
Interest 25,000 Bank overdraft 5,000
Bills payable 50,000
Sales return 20,000 Sales 3,500
Tax and insurance 1,000
35,000 Wages

3,000 Cash

10,500 Machinery

5,000 Purchase returns

1,500 Dividend (Cr.)

Solution:

Trial Balance of LNS Co. Pvt. Ltd, as on 31st Bhadra, 075

S.N. Particulars L.F. Dr. Balance (Rs.) Cr. Balance (Rs.)

1 Bills receivables 13,000 -
2 Capital - 60,000
3 Rent
4 Debtors 7,000 -
5 Opening stock 22,000 -
6 Creditors 5,500 -
7 Building 20,000
8 Bank overdraft - -
9 Loan 25,000 12,000
10 Sales 20,000
11 Purchases - 58,000
12 Wages - -
13 Interest - -
14 Cash 35,000 -
15 Bills payable 13,000 -
16 Machinery 3,000 10,500
17 Sales returns 5,000 -
18 Purchase returns - -
19 Tax and insurance 50,000 3,500
20 Dividend (Cr.) 5,000 -
- 1,000
Total 1,500
- 1,85,000

1,85,000

258 Aakar’s Office Practice and Accountancy - 9

Illustration - 4

From the following ledger balances of Dinesh Murti Company, prepare a trial
balance as on 31st Shrawan, 075:

Heads of account (Rs) Heads of account (Rs)
Opening stock 4,000 Purchase 10,000
Carriage Insurance
Printing and stationery 500 Dividend received 600
Machinery 400 Discount (Cr) 2,550
Furniture 13,000 Land and building
Rent and taxes 15,000 Creditors 150
Sales return 4,000 Salaries 20,000
Debtors 1,500 Cash in hand 7,000
Cash at bank 8,000 Sales 7,000
Purchase returns 18,000 Bills receivables 5,000
Bills payables 800 Capital 22,000
4,000 4,500
75,000

Solution:
Trial Balance of Dinesh Murti Co., as on 31st Shrawan, 075

S.N. Particulars L.F. Dr. Balance Cr. Balance

1 Opening stock 4,000 -
2 Purchase 10,000 -
3 Carriage -
4 Insurance 500 -
5 Printing and stationery 600 -
6 Dividend received 400 2,550
7 Machinery -
8 Discount (Cr) - 150
9 Furniture 13,000 -
10 Land and building -
11 Rent and taxes - -
12 Creditors 15,000 7,000
13 Sales return 20,000 -
14 Salaries 4,000 -
15 Debtors -
-
1,500
7,000
8,000

Trial Balance 259

16 Cash in hand 5,000 -
17 Cash at bank 18,000 -
18 Sales 22,000
19 Purchase returns - 800
20 Bills receivables - -
21 Bills payables 4,500 4,000
22 Capital - 75,000
- 1,11,500
Total 1,11,500

Glossary

Subsidiary book : additional book where the record of credit purchase, credit
sales, return and cash transaction are recorded.
Omission
Accuracy : lapse
Rectified : exactness/equal
Revealed : corrected
: found

Exercise

A. Answer the following questions in one sentence.

1. What is trial balance?
2. What is suspense account?
3. What are the methods of preparing trial balance?
4. What do you mean by errors of principle?
5. Write the major debit items of trial balance.
B. Give short answers to the following question.
6. Define a trial balance and mention its importance.
7. Mention the specimen rulings of a trial balance.
8. Write the objectives of trial balance.
9. Mention the important considerations of a trial balance.
10. What is accounting error? What are its types from trial balance point of

view? Mention.
11. Mention the errors that can be revealed by a trial balance.
12. Describe about the errors that cannot be revealed by a trial balance, with

suitable examples.

260 Aakar’s Office Practice and Accountancy - 9

NUMERICAL PROBLEMS

13. Pass journal entries, prepare necessary ledger accounts and draw out a
trial balance from the following information of ABC Co., Chitwan.
Jestha 1 Commenced business with cash of Rs. 20,000 and goods
worth Rs. 10,000.
Jestha 5 Withdrawn Rs. 2,000 on a permanent basis out of capital.
Jestha 6 Brought in additional capital of Rs. 5,000.
Jestha 9 Sale of goods Rs. 9,500.
Jestha 10 Drawings made during the year Rs. 2,500.
Jestha 12 Furniture purchased from Pooja Rs.10,000.
Jestha 15 Goods purchased from Manish Rs. 5,000.
Jestha 22 Goods purchased Rs. 3,000.
Jestha 30 Paid salaries Rs. 3,000.

14. From the following balance extracted from the ledger accounts of XYZ
Co. as on 30th Chaitra, 2075, prepare a trial balance.

Particulars Rs. Particulars Rs.

Capital 60,000 Drawing 2,500
Sundry creditors 30,800 Cash in hand 4,250
Sundry debtors 22,500 Plant and machinery 20,000
Land and building 26,000 Purchase 65,000
Opening stock 15,500 Carriage 1,100
Wages 25,000 Salary 9,000
Rent 4,000 Sales 1,21,000
Advertising 3,000 Printing and stationery 5,800
Office expenses 6,400 Discount (Cr.)
Commission (Dr.) 1,400 Bad debts 800
1,150

Ans: Total 2,12,600

15. Prepare a trial balance from the following information of ABC Co.
Jestha, 2075.

Capital 15,560/- Suresh’s drawing 5,640/-
Leasehold premises 7,410/- Customers 5,300/-
Purchase return 2,640/- Creditors 5,280/-
Cash in hand 1,420/- Salary and wages 5,980/-
Rent, rates and taxes 4,650/- Sales 27,560/-
Purchase 12,680/- Loan from bank 2,500/-
Trade expenses 7,840/- Bills payables 1,000/-
Opening stock 2,640/- Sales return
980/-

Ans: Total Rs. 54,540/-

Trial Balance 261

16. The following balances were extracted from the books of Suraj Bro. as
on 31st Bhadra, 075. Prepare a trial balance.

Ledger heads Amt. (Rs.) Ledger heads Amt. (Rs.)

Capital 10,000/- Packaging and printing 300/-
Cash in hand 1,700/- Creditors 4,500/-
Cash at Bank 7,000/- Trade expenses 1,600/-
Stock (1-5-075) 1,000/- Drawings 1,500/-
Purchase 11,000/- Bills payables 3,500/-
Bad debt 8,000/-
Carriage 500/- Debtors
Return to supplies 800/- Repair & maintenance 700/-
Wages 1,000/- Reserve fund 2,500/-
Rent and rates 4,000/- Sales 17,000/-
Legal charges 600/- Return from customers 1,400/-
400/- Carriage out
400/-

Ans: Total 40,900. Suspense A/c (Cr.) 2,400.

17. Prepare a Trial Balance from the following information.

Ledger heads Amt. (Rs.) Ledger heads Amt. (Rs.)

Suresh’s capital 1,556 Suresh’s drawing 564
Leasehold premises 741 Sales 2,756
Due form customers 530 Purchases 1,268
Purchase returns 264 Loan from bank.
Creditors 528 Trading and office expenses 250
Cash in hand 142 Bills payables 784
Salaries & Wages 598 Opening stock 100
Rent rates and taxes 465 Sales returns 264
98

Ans, Total: 5,454

18. From the following balances taken from the books of Suresh & Co. as
on 31st Ashwin, 075, prepare a trial balance.

Heads of Account Amount Heads of Account Amount

Cash 10,000 Commission paid 150
Sundry debtors 21,600 Purchases 20,000
Salaries & Wages 2,700 Carriage inward 3,000
Capital 50,000 Sundry creditors 5,000
Sales 49,500 Drawings 3,000
Furniture 8,000 Return outwards 2,000
Discount earned 9,000
Freight 450 Bank 27,000
2,500 Machinery

Ans: Total: Rs. 106,950

262 Aakar’s Office Practice and Accountancy - 9

19. Prepare a Trial Balance from the following ledger balances of Rita Pvt.
Ltd. Ashad, 2075.

Drawings 5,000 Capital 30,000
Sundry Creditors 60,500 Bills Payable 2,000
Sundry Debtors 70,500 Bills Receivable 7,500
Loan to Roshan 10,000 Fixture and Fittings 6,750
Land 70,500 Cash in hand 1,350
Cash at Bank 18,750 Bank Overdraft (Megha Bank) 3,000
Purchases 50,000 Duty and clearing charges 5,250
Sales 167,000 Salaries 12,250
Return Inwards 1,500 Return Outwards 1,650
Commission 6,050 Trade Expenses
Discount Received 4,000 Traveling Expenses 750
2,000

Ans: Rs. 2,68,150

20. On the basis of following balances, prepare a trial balance of Jestha,
2075.

Cash 12,500 Bank 3,500
Purchase 30,000 Sales 80,000
Sales return 3,000
Capital 500 Purchase return 15,000
Bills payable 41,000 Creditor 5,500
Wages 10,000 Bank overdraft 16,000
Business expenditure 6,000 Salary 1,500
House rent 4,000 Insurance 11,000
Carriage outward 3,000 Debtor 2,000
Opening stock 3,000 Carriage inward 45,000
16,500 Building

Ans: Total Rs. 1,54,500

21. From the following points, prepare a trial balance of Suman & Company
of 31st Ashadh, 2075

Capital 82,000 Bad debt 1,500
Purchase 60,000 Discount paid 2,400
Sales 1,72,000 Rent charge 2,600
Insurance 1,600 Equipment 40,000
Reserved for doubtful debt 3,000 Debtor 76,000
Printing &Packing 1,350 Wages 2,200
Salary 31,000 Sales return 2,000
Purchase return 1,850 Bills receivable 3,400
Bills payable 3,200 Drawing 4,000
Accrued income 34,000 Sundry creditor 36,400
Bank balance 36,400

Ans: 2,98,450

Trial Balance 263

22. Prepare the Trial Balance of Sagar Furniture for the fiscal year 2075/076
from the following particulars.

Particulars Amount Particulars Amount
Accrued income 20,000
10,000 Bills payable

Bank loan 40,000 Debtors 25,000

Cash 45,000 Discount received 30,000

Sales 70,000 Purchase 80,000

Ans: Trial Balance Total: 1,60,000

23. Prepare the trial balance of Bikash Furniture, Kathmandu for the fiscal
year 2075/076 from the following particulars.

Particulars Amount Particulars Amount

Sale of scrap 40,000 Machine 35,000

Investment 20,000 Loan of Prem 30,000

Rent earned 10,000 Advance Income 10,000

Drawing 15,000 Depreciation 20,000

Ans: Trial Balance Total: 90,000

24. Prepare the Trial Balance of Nepal Soap Company, Biratnagar for the
fiscal year 2075/076 from the following particulars.

Particulars Amount Particulars Amount

Bills of exchange 35,000 Patents 25,000

General reserve 25,000 Debenture 40,000

Surplus 30,000 Bad debts recovered 5,000

Brokerage Charge 25,000 Sales returned 15,000

Ans: Trial Balance Total: 1,00,000

25. Prepare the Trial Balance of Anusha and Anjana Company for the fiscal
year 2075/076 from the following particulars.

Particulars Amount Particulars Amount
Capital 80,000
160,000 Opening stock

Purchase 116,000 Furniture 16,000

Debtor 40,000 Sales 80,000

Bills payable 6,000 Interest received 26,000

Ans: Trial Balance Total: 2,72,000, Suspense account Dr. Rs. 20,000

264 Aakar’s Office Practice and Accountancy - 9

26. Prepare a Trial Balance of Rashila Trading Company at the end of
Ashad, 2075 from the followings.

Opening stock 30,000 Capital 50,000
Purchase 2,70,000 Salaries 10,000
Interest Expenses 2,50,000
Creditors 15,000 Sales 20,000
Rent Expenses 80,000 Payable Amount 60,000
15,000 Bank Balance

(Ans: Total Rs. 4,00,000)

27. Prepare a trial balance of Nepal National Trading Limited of the fiscal
year ended Asadh 31, 2075 from the following particulars.

Capital 3,00,000 Opening stock 1,20,000
Purchased 2,15,000 Sales 2,00,000
Creditors
Purchased Returned 20,000 Furniture 55,000
Bank overdraft 5,000 Salaries 1,45,000
25,000 Sales returned
15,000

(Ans: Total Rs. 5,50,000)

28. Prepare a Trial Balance of Raj Kamal Industry for the fiscal year ended
on Asadh last 2075/76.

Capital 3,50,000 Opening stock 40,000
Sales 1,00,000 Purchase 2,00,000
Sales returned
Creditors 1,000 Purchase returned 5,000
Bank overdraft 10,000 Debtor 50,000
15,000 Land and building 1,89,000

(Ans: Total Rs. 4,80,000)

29. Prepare Trial Balance of Kunal Guest House as on 31st, Asadh, 2075,
from the following particulars.

Capital 3,22,000 Bank Loan 56,000
Purchase 9,70,000 Creditors 1,50,000
Sales 12,00,000 Depreciation 1,65,000
Drawings
Machinery & Equipment 83,000 Reserve Fund 91,000
3,71,000 Bills Receivable 2,30,000

(Ans: Total Rs. 18,19,000)

30. Prepare a Trial Balance of Shagun Company of 31st Asadh, 2075 from
the, following transaction.

Purchase 2,50,000 Sales 2,12,000
Furniture 30,000 Bank Loan 80,000
Purchase Return 15,000 Depreciation 12,000
Bills Receivable 8,000 Discount Received 5,000
Debtor 5,000 Sales Return 7,000

(Ans: Total Rs. 3,12,000)

Trial Balance 265

31. Prepare a Trial Balance of Kathmandu Cold Store for the fiscal year end
of Asar 2074/2075 from the following particulars.

Capital Rs. 1,70,000/- Purchase Rs. 2,35,000/-
Sales Rs. 4,95,000/- Opening stock Rs. 80,000/-
Sales Return
Stationery Rs. 14,000/- Salaries Rs. 3,50,000/-
Rs. 63,000/- Bank overdraft Rs. 77,000/-

(Ans: Total Rs. 7,42,000)

32. The following trial balance is incorrect and incomplete. Redraft the
trial balance correctly.

Particulars Debit Credit

Bank Loan 1,04,000

Sales Return 32,000

Plant and Machinery 60,000

Capital 5,14,700

Sales Promotion Expenses 25,000

Furniture 1,00,000
Drawings
Load and Building 14,000
Reserve
Suppliers 36,000
Electrical Fittings
Motor Car Repairs 19,000
Opening Stock
Cash 3,14,000
Customers
72,000

46,000

62,500

54,200

450,000

Total 9,51,700 9,51,700

Pr oject Work

a. Make a trial balance after observing and analyzing the journal and
ledger of any two social organization.

b. Observe the trial balance of your school.

266 Aakar’s Office Practice and Accountancy - 9

Unit 13 Government
Accounting System

CDC Syllabus 4 Periods Shyaha Shresta Pranali

13.1 Introduction and Brief Evaluation Shyaha (Journal) Awarje (Ledger) Dhapot (Balance)

Nagadi (Cash) Income Awarje Job Ending
Jinshi (Property) (Income Ledger) Month Ending
Dharauti (Security) Year Ending
Vinjalik Awarje
(Expenses Ledger)

ObjeLcetiarvneisng After studying this unit, students will
be able to :

know the meaning government
account,

state the features of government
accounting,

explain historical development of
government accounting in Nepal,

explain the types of accounting
system used in Nepal,

differentiate government accounting
and business accounting.

GovernmeTnrtiaAl Bcacloaunncteing System 267

1. Introduction

Financial administration is an

essence of an organization. Whether

it is government or non-government

organization, accounting is its major

component. Accounting provides the

entire financial information to the

financial management by identifying,

recording, classifying and summarising

the financial transactions, and

interpreting their results. Then the

general management takes decisions on Office of Auditor General
the basis of such information, specially

in financial matters. Thus, accounting is an important portion of every organizational

entity, which identifies records, classifies and summarizes the financial transactions

and interprets the results thereof.

It is the compulsory duty of the government of every country to maintain rule and
order and peace and security to develop every sector on the equitable basis and
establish and develop the sound defence system and maintain due stability in all the
sectors of the national economy in the country. For this, the government establishes
various ministries, departments, constitutional bodies and a number of sub-
ordinating offices under them. It also conducts various government activities through
these offices and sometimes some special projects are also conducted in different
sectors of social life. A number of financial resources are used in the conduct of such
regular activities and the special projects. The government should make a number of
systematic records of the financial activities in order to see the performance efficiency,
control fraud and leakage of resources, see the application of the budgetary rules in
controlling expenditures and so forth. It is the government accounting, which helps
the government to satisfy all such objectives. Thus, a government accounting refers
to the accounting used in government offices to satisfy the objectives of controlling
the government expenses and financial resources, measuring the efficiency of the
government offices and projects, and to determine the accountability of the concerned
authority in the conduct of such activities.

In this regard, Oshisami & Dean have defined government accounting as: “The
process of recording, analysing, classifying, summarising, communicating and interpreting
financial information about government in aggregate and in detail, reflecting all transactions
involving the receipt, transfer and disposition of government funds and property.”

Key Point Government accounting is the systematic and scientific process
of recording, classifying and summarizing the government
revenue and expenditure for the proper utilization of public
fund in development and administrative works.

268 Aakar’s Office Practice and Accountancy - 9

2. Objectives of Government Accounting

Government accounting refers to the accounting, which is used in the
government offices. It is viewed to serve the government by providing necessary
financial information from time to time in order to control the frauds and leakage
of financial resources and determine the accountability of the government bodies.
It acts as an important tools of financial administration. Government accounting
has various, objectives. The common and important objectives of a government
accounting mentioned as below:

i. To keep the accurate and complete records of all the financial transactions of
the government offices.

ii. To regulate the government expenditures within the budget limit and collect
the government revenue from the budget prescription.

iii. To provide necessary information about different government funds, their
utilization and expenses for different government activities and project.

iv. To provide necessary financial data, statistics and figures of government
revenue and expenditures which are necessary for the preparation of financial
statement and forth-coming budget?

v. To make the proper control over the stores and inventory of materials and
other capital assets and safeguarding them from misuse, damage, theft etc. by
keeping their up-to-date records.

vi. To facilitate auditing by making it simple and less expensive as it records the
complete and real records of the financial transactions of the government.

3. Historical Development of Government Accounting
in Nepal

There is not any evidential proof about the origin of accounting system in
Nepal. Lichchhavi and Malla periods were of great importance from the viewpoint
of financial administration. During the Lichchhavi period, the government revenues
were collected from Panchali (local government body), Guthi (trust), Jinsi Kar
(property tax), Sharmdan (voluntary work), etc. and expenditures were made for
war, renovation, construction and repairs of temples, tapes, ponds, holy-shrines
and worshiping expenses, etc. During Malla period, with the beginning of a trade
relation with Tibet, revenues from customs and trade were also added in the line of
government revenue and expenses were incurred on the same head but to larger and
more frequent extent. Thus, accounting is found to have started form the Lichhavi
period in a form according to the need and knowledge of the ruler and then continued
onward to the Malla period. But such an accounting system was not scientific and
long lasting.

Government Accounting System 269

The need of accounting was felt necessary with the increase of transactions, in
course of time. Later, in the beginning of the unification of Nepal in 1825 B.S., it is
believed that a memorandum record of government revenues and expenditures as
an accounting system was developed to maintain. In this regard, two books called
Laldhadda and Mothdhadda were introduced in the years 1871 and 1879 B.S.
respectively. The book Laldhadda was used to record the government revenues
and administrative expenditures whereas the book Mothdhadda for recording the
transactions of Kipat Byabstha (land management). These two books have proven to
be the foundation for the origin and development of accounting system in Nepal. In
the year 1925 B.S., an office, called, ‘Nepal Kitabkhana’ was formed to register the
name of the government employees and to record the salaries paid to them, which
is still in use to record the salary transactions and the pension transactions of the
retired government employees. The accounting record of salary expenses used to be
recorded in Kaushi Tosha Khana, a section under Kitab Khana.

Again, with the passage of time, transactions were also increased in different sectors
like land revenue in the name of Malpot (land tax), revenue from forest, trade and
customs, etc. in the revenue side and war, peace and security, religious activities,
salaries to the government employees, administrative expenses, government subsides,
pension expenses and other developmental expenditures on the expenditure side.
Such an increase in government transactions led the development of accounting
system in the country. Towards 1936 B.S. Khardar, Gunwanta, a senior official of
that time, introduced a new sort of accounting system called Shyaha Shresta Pranali,
with a view to record the government revenues and expenditures in a simple, uniform
and systematic way so as to exhibit revenues and expenditures in a simple, uniform
and systematic way, and to exhibit the actual position of the government revenue and
expenditure. This system remained in practice in the country till 2022/23 fiscal year
and ultimately replaced by the New Accounting System of Government of Nepal.

Even though Shyaha Shresta Pranali was comparatively more systematic and
scientific accounting system, it could not cover the numerous and complicated
transactions in the Terai-region of the country. As a result, in about 1968 B.S. Faram
Shresta Pranali (Form Accounting System) was introduced and brought into practice
in the Terai region. It had 51 different forms to record and report the transactions
and thus named as Faram Shresta Pranali. In this way, after 1968 B.S. and until the
implementation of New Accounting System of Government of Nepal, there were two
accounting systems, Shyaha Shresta Pranali in the Mountainous region and Faram
Shresta Pranali in the Terai region and Kathmandu valley. Since, the autocratic
Rana rulers did not give any importance to the accounting system and to the entire
financial administration, the accounting system could not be developed during the
period of Rana-Regime.

After the historical movement of 2007 B.S., the autocratic Rana Regime was
overthrown and democratic government was established in the country. Since, then

270 Aakar’s Office Practice and Accountancy - 9

the government seemed to be more responsible for the people, the government
declared budget system for the first time, in the country, in 2008 B.S. to let the people
know about the government’s projected revenues and expenditures. Again, economic
planning was started from 2013 B.S. for the balanced economic development of the
country. But because of the lack of appropriate accounting system, the necessary data,
figures, and other financial information could not be obtained for the preparation
of a sound budget and economic plans and for their implementation. Thus, the
government felt the necessity of an appropriate accounting system for recording the
government transactions. But due to the political instability and lack of the guiding
rules during the first decade of the democratic era, such an accounting system
could not be introduced. Thus, in the year 2016 an Act called “Procedural Rules for
Government Fund Expenditure 2016 was passed and enacted by the government
in order to establish the uniformity in financial administration. On the other hand,
the Auditor General was appointed as per the `Constitution of Nepal 2015’ as a
constitutional body to check the frauds and misappropriation of government budget
and to audit the accounting thereto.

After the enactment of the Act “Procedural Rules for Government Fund Expenditure
2016”, Bhuktani Shresta Pranali (Payment Accounting System) was introduced in
2017 B.S., which was based on the principle of double entry system. But within a very
short period, it was proven to be insufficient to cover the government transactions,
specially the revenues, foreign aids and donation and budget transfer, etc. Thus,
it was replaced, in a short time, by New Accounting System, which is still in use
throughout the country.

Even though the political system was changed from multiparty democratic system
to partyless Panchayat System, it did not disturb the development of accounting.
Because of some serous limitations of the Payment Accounting System, a new
accounting system was introduced as per the recommendation of `Accounting
Committee 2017’. It replaced the Payment Accounting System and all other old
accounting systems. It is completely based on the principle of double accounting
system. This system is used, nowadays throughout the country.

Payment Accounting System was replaced by the New Accounting System in the
fiscal year 2019/020 as per the recommendation of the ‘Accounting Committee 2017’.
It was aimed to remove the difficulties and limitations of old accounting systems
and even of the Payment Accounting System and to establish uniformity in account
keeping throughout the country.

4. Types of Accounting System used in Nepal

In Nepal, various accounting systems used in government offices from the
ancient time. The following are the commonly used accounting systems in Nepal
from the ancient time:

Government Accounting System 271

i. Wasil Banki Shresta Pranali

It was a simple accounting system under, which revenues ware recorded on one
side pages and the expenditures on the other. So as to determine the balance between
the totals of revenues and incomes of a government office for a certain period. The
offices having very small quantity of activities or temporary government projects
used to maintain this sort of accounting in order to fine out the balance of budget
releases after a certain period or after the completion of a project. The book of account
under this accounting was the first and final book of the office. The accounts ware
closed, under this system, either on the expiry of the fiscal year. i.e. year termination
or on the completion of the job or project.

Its serious limitations ware that it was based on single entry system, there was no
provision of classification of income and or expenses and it was the first as well as
the final record of the transaction. Thus, it could not remain in use for a long time.

ii. Shyaha Shresta Pranali Shyaha Shresta Pranali

Shyaha Shresta Pranali was Shyaha (Journal) Awarje (Ledger) Dhapot (Balance)
that pranali, which maintained three

different books of account for different Nagadi (Cash) Income Awarje Job Ending
types of transactions and could show Jinshi (Property) (Income Ledger) Month Ending
the income, expenditure and balance, at Dharauti (Security) Year Ending
a time, in a classified way. This system Vinjalik Awarje
(Expenses Ledger)

was more reliable, advance and scientific

than the prevailing systems of accounting. It was propounded in 1936 B.S. by

Khardar Gunbanta, the senior official of that time in order to make the records of the

transactions in a classified way. It was remained in practice for about 86 years in the

country. Three different books were found used in recording the transaction under

this system. They are, briefly, discussed below:

a. Shyaha

It was the first book under Shyaha Shresh Pranali. It was in some extent, similar
to the journal book of modern accounting system. It was prepared in ‘T’ form made
by folding and pressing the paper, specially, the traditional Nepali Kagaj. Left side of
the paper was used to record the income or receipt and the right side for expenditure
or payment. Both the sides ware totalled and balanced on daily and cumulative basis.
The daily totals were underlined by a single straight line, called ‘Terij’ or sub-total
and the cumulative total upto the date were underlined by two parallel lines, called
‘Berij’. Thus, Terij was meant for sub total of the transactions of a day and ‘Berij’, for
the grand total upto the also date of the period.

There was a provision of classified recoding in the Shyaha for the cash, property and
security deposit transactions. Thus, it was of mainly, tree types. They are: i. Nagadi
Shyaha (cash shyaha), ii. Jinsi Shyaha (property shyaha), iii. Dharauti Shyaha
(deposit shyaha)

272 Aakar’s Office Practice and Accountancy - 9

b. Awarje

A shyaha could be closed under two terms i.e. monthly and yearly. Thus, there
were to ways of closing a shyaha monthly closing and yearly closing. Transactions
presented under income and expenditure head separately. It used to be taken from
the first book shyaha and thus it was said to be a posting. It was of two types:
(a) income awarje and
(b) expenditure (minjalik) awarje.

i. Income Awarje

The awarje, which was maintained for recording the incomes of the government
was said to be income awarje.

ii. Minjalik Awarje (Expenditure Awarje)

The awarje which was maintained for posting the various expenditures as
known as minjalik awarje.

c. Dhapot

Dhapot was the final summarized statement of all the transactions of a project
or job in a period. It was meant to present the summarized information based on the
records of the transactions occurred during a specific period: say a month, a year or
even for a certain job or project. Thus, it was in some extent, similar to the balance
sheet of the modern accounting system. It was also of three types as according to its
term of closing. They were Monthly Termination Dhapot, Year Termination Dhapot
and Job Termination Dhapot.

iii. Faram Shresta Pranali (Form Accounting System)

Shyaha Shresta Pranali was an adance and more scientific system of accounting
in its period. It could not meet the accounting need of the Terai-region and the cities
because of the variety and large volume of transactions. A new accounting system
was introduced and brought into practice in the Terai-region in about 1968 B.S. to
record the varieties of transactions by using a number of forms. This accounting
system is said to be the Faram Shresta Pranali. There were altogether 51 different
forms used under this system.

iv. Bhuktani Shresta Pranali (Payment Accounting System)

After the historical peoples movement in 2007, the autocratic Rana Regime
was overthrown and democratic government was formed in the country. It because
more responsible toward the people of the county, specially in the transparency of
the government affairs. Thus, the government declared Budget System in 2008 and
again for the balanced development of the country, it started economic planning,
but the necessary statistics and other financial information could not be supplied

Government Accounting System 273

by the existing accounting systems. Then, the government felt the necessity of an
accounting system based on double entry principle for making the complete record
of the government fund expenditures. According to the ‘Constitution of Nepal
2015’, and act called ‘Procedural Rules For Government Fund Expenditure 2016,’
was passed and enacted in 2016. Then Bhuktani Shresta Pranali was introduced in
the government offices of Nepal in 2017 as the outcome of that act. As this system
was basically related to expenditure aspect, it was called Kharcha Shresta Parnali.

v. Naya Shresta Pranali (New Accounting System)

Payment accounting system, although, was scientific and based on the principle
of double entry system, could not fulfil the accounting need of the government
offices because of its serious limitations and practical difficulties, such as lack of the
provision of budget transfer, non-unifomity of advance transactions, concentrations
only towards the payments, etc. Besides, the Payment Accounting System could not
show the actual position of the foreign aid and donation and the picture of their
utilization to the foreign countries because of the lack of such a provision under this
system.

Hence, for the improvement, decentralisation, and modernisation of the accounting
system in the country, the government formed a committee in the name of ‘Account
Committee 2017’ on the 20th Magh, 2017. It was of 4 members:

i. Accountant General of Government,
ii. Under Secretary, Ministry of Finance,
Foreign Aid Department, Government of Nepal.
iii. Account Specialist, UNO.
iv. Public Administration Advisor of U.S. Aid.

The committee studied, in detail, about such an accounting system, for 288 days and
presented a draft to the finance secretary on the 18th of Kartik 2018 B.S. by suggesting
a New Accounting System for the country. This system was quite a new system of
accounting. It was first implemented in the offices of Kathmandu Valley from the
fiscal year 2019, then in the offices Narayan zone and the rest of Bagmati zone from
the fiscal year 020/021 and again added the offices of Janakpur and Gondaki zone
from the fiscal year 021/022, and finally, all over the country from the fiscal year
2025/026.

5. Differences between Government Accounting and
Business Accounting

The differences between government accounting and business accounting are
presented here:

274 Aakar’s Office Practice and Accountancy - 9

Government Accounting Commercial Accounting

1. The main purpose of the 1. The main purpose of commercial

government is to provide firm is to perform business

administrative and financial activities to earn profit. For this

service to the general public. So, it purpose, they prepare Trading

prepares accounts of government Account, Profit and Loss A/c and

revenues and their expenditures. Balance Sheet.

2. It is based on budget. All 2. It is not necessary to prepare all

expenses of government offices statements of accounts on the basis

are pre-determined on the basis of a budget head. However, budgets

of budget. Similarly, revenues are are used to compare the actual

also projected by the budget. performance with the budgeted

performance.

3. The main purpose of governments 3. The main purpose of business

accounting is to reflect the plans account is to find out the profit

and policies of the government in earned or loss suffered during a

financial terms. financial year.

4. It has to be maintained as per 4. It is not based on government

the government rules and rules and regulations. Rather it is

regulations. based on the Generally Accepted

Accounting Principles (GAAP)

evolved over the years.

5. It is prepared on cash basis i.e. 5. It is prepared on cash as well as

only cash receipts and cash accrual basis.

payments.

6. It has the system of central level 6. It does not divide the accounting

and operating level accounting. system under different levels.

7. The Office of Auditor General 7. A professional auditor can audit

audits books of account kept who is licensed from the Office of

under government accounting. Auditor General.

Glossary : credit/not in cash
: main laws of the country
Accrual : estimated income and expenditure
Constitution : income of government office
Budget
Revenue

Government Accounting System 275

Exercise

A. Answer the following questions in one sentence.

1. What does government accounting mean?
2. What is meant by laldhadda?
3. What is meant by Mothdhadda?
4. When was an office called kitbkhana established in Nepal?
5. When did Kharidar Guuqwanta propound Shyaha Shresta Pranali?
6. When was the new accounting system introduced in Nepal?

B. Give short answers to the following question.

7. Briefly mention the historical development of government accounting in
Nepal.

8. Distinguish between government accounting and business accounting.
9. Write the objectives of Government Accounting?

Pr oject Work

a. Visit to any two government offices of your locality. Find out the type
of Government Accounting System used by government officials.

b. Make the list of forms and formats used by government offices of
your locality.

276 Aakar’s Office Practice and Accountancy - 9

Model-1

Full Marks: 75
Time: 2:15 hrs. Pass Marks: 24

Candidates are requested to answer in their own words as far as practicable. Credit
shall be given to creatively not rote learning.

Attempt all the questions:

GROUP : A

A. Answer the following questions in one sentence. 5×1=5

1. What is meant by industry?

2. Define record.

3. What is meant by dispatch of mail?

4. What is meant by disposal of record?

5. Define Endorsement of the Minute.
GROUP : B

B. Give the short answer to the following questions.

6. Explain any five qualities of Office Assistant. 5

7. Write any five differences between Single Entry System and Double

Entry Book-keeping System. 5

8. Explain any five parts of a good letter. 5

9. Explain about the historical development of government accounting in

Nepal. 5

10. Explain the development process of postal services in Nepal. 5

11. Journalize the following transactions of SP and TP Company,

Chitwan. 5

i. On 2073-06-03 Commenced business with Rs. 40,00,000 and
furniture Rs. 1,00,000.

ii. On 2073-06-10 Purchased goods from Ram company in cash
Rs. 15,000 and credit Rs. 10,000.

iii. On 2073-06-14 Goods sold to Amit Stores Rs. 90,000 and received
Rs. 20,000 cash only.

iv. On 2073-06-22 Paid for salary Rs. 30,000.

v. On 2073-06-26 Withdraw cash from bank Rs. 10,000.

Model Questions and Appendix 277

12. Prepare the Cash A/c and Shyam’s A/c from the following

transactions. 2.5+2.5

i. On 2072-06-03 Started business with cash balance Rs 10,00,000,
Bank Balance Rs. 10,00,000 and furniture Rs. 4,00,000.

ii. On 2072-06-06 Sales goods to Shyam Stores Rs. 50,000

iii. On 2072-06-13 Deposit cash Rs. 50,000 into bank.

iv. On 2072-06-17 Purchase goods in cash Rs. 6,00,000.

v. On 2072-06-22 Cash received from Shyam Stores Rs. 49,500 in
full settlement.

13. Draft a Trial Balance of Chitwan Stores as on 30th Jestha, 2073 from the

given information. 5

Captial Rs. 45,00,000 Accured income Rs. 5,00,000

Creditors Rs. 5,00,000 Net profit Rs. 5,00,000

Furniture Rs. 10,00,000 Reserve fund Rs. 1,00,000

Rent Rs. 1,00,000 Plant and Machinery Rs. 40,00,000
GROUP : C

C. Write long answer to the following questions.

14. What are office resources? Explain the types of office resources with an

examples. 1.5+8.5

15. What is sole trading concern? Explain any four advantages and any four

disadvantages of it. 2+4+4

16. Enter the following transactions in a cash book with cash, discount and

bank columns of Amita Traders. 10

2016, March:

05, Opening balance cash in hand Rs. 10,00,000 and bank balance
Rs. 8,00,000.

10, Paid cash to A to Z Co. Rs. 99,000 and received discount Rs. 1,000 in
full settlement.

13, Cash sales Rs. 1,00,000 and credit purchase Rs. 20,000.

15, Cash received from ABC against bad debt previously written off as
Rs. 50,000.

18, Cash paid Rs. 80,000 to Ramesh in full settlement of Rs. 82,000.

20, Paid cash to Santosh Stores Rs. 20,000 and received discount
Rs. 1,500.

22, Machinery purchased by cash Rs. 50,000.

26, Cash deposited into bank Rs. 20,000.

28, Purchase goods for cash Rs. 50,000.

30, Salary paid to staff by cheque Rs. 1,40,000.

278 Aakar’s Office Practice and Accountancy - 9

Bibliography

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Arora, S.P. (2000) : Office Organization and Management, New Delhi,
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Bhusan, Y.K. (1995) : ‘Business Organization and Management’, New
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Grewal, T.S. : ‘Double Entry Book Keeping’, New Delhi, S. Chand
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Janak Shikshya : ‘Office Management and Account (Grade 10)’,
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Porter, GA, Curtis L. Norton : ‘Financial Accounting (3rd Edition)’, Harcourt
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Saxena, S. (2003) : ‘Business Studies’, Delhi, S. Chand.

Saxena, S.C. : ‘Business Administration and Management’.

Sharma, R.K. Gupta, Shashi (1995) : ‘Business Organization and Office Management’,
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Shelakar, S.A. (1982) : ‘Modern Business Organization and Management
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Taylor, Shirley (2004) : ‘Model Business Letters, Email and other Business
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Tulsian, P.C. (2003) : ‘Introduction to Accountancy’’ New Delhi, Tata
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Websites : www.moecdc.gov.np | www.moe.gov.np

Economic Report (2016) : Nepal Rastra Bank

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Shrestha, K.N. (2060) : ‘Business Organization and Office Management’,
Kathmandu, Nabin Prakashan

Model Questions and Appendix 279

Notes for Student

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280 Aakar’s Office Practice and Accountancy - 9