Question

In: Accounting

This Trial Balance is extracted from the books of BMW Enterprises Debit ( N$) Credit (N$)...

This Trial Balance is extracted from the books of BMW Enterprises

Debit ( N$)

Credit (N$)

Capital 01/02/2011

5 500

Drawings

2 800

Stock 01/02/2011

2 597

Debtors

2 130

Furniture

1 750

Cash

1 020

Creditors

2 735

Sales

7 430

Return inwards

85

Discount received

46

Expenses

950

Purchases

4 380

Totals

16 446

14 977

In addition to the mistakes above, the following errors were detected:

  1. A payment of N$ 75 made to a creditor had not been posted from the cash book into the purchases ledger
  1. A cheque for N$ 56 received from a customer had been correctly entered into the cash book but posted to the customer’s account as N$ 50
  1. A purchase of furniture N$ 120 had been included in the purchases account.
  1. The total of the discount allowed column in the cashbook of N$ 38 had not been posted into the general ledger.
  1. A page of the sales day book was correctly totalled as N$ 564 but carried forward as N$ 456.

You are required to:

Show the trial balance as it appears after all the errors had been corrected. Show all your workings.

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Q6. The following trial balance has been extracted from the books of Abrantier Enterprises as at...
Q6. The following trial balance has been extracted from the books of Abrantier Enterprises as at 31st May 2019                                                                          Dr                            Cr                                                                         Gh¢                          Gh¢ Advertising                                                  46,000 Bank                                                              6,000 Cash                                                               2,000 Capital                                                                                         1,114,000 Discount allowed                                          2,000 Discount received                                                                           12,000 Drawings                                                    340,000 Electricity                                                     26,000 Investment                                                    80,000 Investment income received                                                          8,000 Office equipment                                       200,000 Trade Creditors                                                                           104,000 Other creditors                                                                              16,000 Trade debtors                                             130,000 Other debtors                                               30,000 Machinery                                                  400,000 Purchases                                                   428,000 Purchases return                                                                            28,000 Sales                                                                                         1,260,000 Sales return                                                  60,000 Stationery                                                     18,000 Wages                                                        774,000...
The following trial balance was extracted from the books of Robert Kiyosaki Books Shop at the...
The following trial balance was extracted from the books of Robert Kiyosaki Books Shop at the close of business on the 28 February 2017. Dr Cr Purchases and Sales 550,280 820,500 Cash at Bank 1,500,000 Cash in hand 50,000 Capital account 1 March 2016 1,470,080 Drawings 12,000 Office Furniture 25,000 Accumulated depreciation – Office Furniture 1,800 Returns inwards and outwards 19,000 12,000 Rent 30,000 Wages and Salaries 55,800 Discounts 8,000 20,000 Debtors and Creditors 40,000 18,000 Inventory 1 March 2016...
Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial...
Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial balance(credit) Cash 32,236.75 32,236.75 baking supplies 18,500 18,500 merchandise inventory(fifo) 175.65 175.65 prepaid rent 1500 1500 prepaid insurance 2400 2400 baking equipment 6000 6000 accumulated depreciation 208.33 208.33 office supplies 600 600 accounts receivable 7700 7700 notes payable 10,000 10,000 wages payable 480 480 common stock 16,000 16,000 dividends 10,000 10,000 bakery sales 55,000 55,000 merchandise sales 221 221 baking supplies expense rent expense...
The following trial balance was extracted from the books of MNZ Bhd as at 31 December...
The following trial balance was extracted from the books of MNZ Bhd as at 31 December 2019. MNZ Bhd Trial Balance as at 31 December 2019 Debit RM’000        Credit        RM’000 Turnover 440,000 Inventory at 1 January 2019 5,000 Trade receivables and payables 30,000 27,500 Purchases 200,000 Administrative salaries 49,000 Selling and distribution expenses 32,500 Other expenses 2,750 Investment 117,000 Cash in hand and bank 5,250 Director’s remuneration 17,000 Auditor’s fees 1,500 Ordinary share capital -200 million shares as...
Question 2 The following trial balance was extracted from the books of R Giggs at the...
Question 2 The following trial balance was extracted from the books of R Giggs at the close of business on 28 February 2007. Dr Cr RM RM Purchases 92,800 Sales 157,165 Cash at bank 4,100 Cash in hand 324 Capital 11,400 Drawings 17,100 Office furniture 2,900 Rent 3,400 Wages and salaries 31,400 Discount received 160 Discount allowed 820 Accounts receivable 12,316 Accounts payable 5,245 Inventory 1/3/2006 4,120 Provision for doubtful debts 405 Motor vehicles 3,750 Motor expenses 615 Bad debts...
The following trial balance was extracted from the books of HoodRobin Bhd as at 31 December...
The following trial balance was extracted from the books of HoodRobin Bhd as at 31 December 2019. HoodRobin Trial Balance as at 31 December 2019     Debit      ’000       Credit ’000 Turnover 880,000 Inventory at 1 January 2019 10,000 Trade receivables and payables 60,000 55,000 Purchases 400,000 Administrative salaries 98,000 Selling and distribution expenses 65,000 Finance expenses 5,500 Investment 234,000 Cash in hand and bank 10,500 Director’s remuneration 34,000 Auditor’s fees 3,000 Ordinary share capital -400 million shares as...
The following trial balance was extracted from the books of Mike Karuvadu on 31 Dec 2018....
The following trial balance was extracted from the books of Mike Karuvadu on 31 Dec 2018. From it and the note inventory, prepare his Statement of Profit or Loss for the year ending 31 Dec 2018 and a Statement of Financial Position as at that date:                                                                                                 Dr                    Cr                                                                                                 $                      $ Sales                                                                                                                216,420 Purchases                                                                                109,680 Inventory: 1 Jan 2018                                                             10,410 Carriage outwards                                                                  2,115 Carriage inwards                                                                     1,840 Return inwards                                                                       5,900 Return outwards                                                                                             6,720 Salaries and wages                                                                  42,800 Motor expenses                                                                      ...
The following trial balance has been extracted from the books of Mr Momoh as at 31...
The following trial balance has been extracted from the books of Mr Momoh as at 31 March 2019 Le000 Le000 Administrative expenses       250 Distribution costs 295 Share capital (all ordinary share of Le 1.00)   270 Share premium 80 Revaluation reserve 20 Dividend    27 Cash at bank and in hand 3 Receivables        233 Interest paid    25 Dividend received    15 Interest received 1 Land and building at cost (land 380 building Le 100) 480 Land and building...
The following trial balance has been extracted from the books of Mr Momoh as at 31...
The following trial balance has been extracted from the books of Mr Momoh as at 31 March 2019 Le000 Le000 Administrative expenses       250 Distribution costs 295 Share capital (all ordinary share of Le 1.00)   270 Share premium 80 Revaluation reserve 20 Dividend    27 Cash at bank and in hand 3 Receivables        233 Interest paid    25 Dividend received    15 Interest received 1 Land and building at cost (land 380 building Le 100) 480 Land and building...
The following unadjusted trial balance was extracted from the books of Carol’s Trading Company at December...
The following unadjusted trial balance was extracted from the books of Carol’s Trading Company at December 31, 2017, the end of the company’s fiscal year. The company is owned by Carol Williams who trades in the business of buying and selling household consumables. Carol’s Trading Company Trial Balance as at December 31, 2017 A/C Name DR $ CR $ Cash 250,000 Accounts Receivable 340,000 Allowance for Bad Debts 25,000 Merchandise Inventory 210,000 Store Supplies 120,000 Prepaid Insurance 156,000 Office Furniture...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT