2020 JYSS 3N POA EOY P2 Q5
5 Bala has extracted the following balances from the ledger accounts of his business as at 30 June 2020.
$ | |
17 470 | |
7 200 | |
Fixtures and fittings | 15 000 |
Accumulated depreciation of fixtures and fittings | 3 000 |
Cash in hand | 450 |
Trade payables | 1 780 |
General expenses | 9 000 |
4 600 | |
11 000 | |
25 000 |
REQUIRED
a. Prepare the trial balance of Bala’s business as at 30 June 2020.
[10]
b. State two uses of a trial balance.
[2]
[TOTAL 12]
SOLUTION
Lorem ipsum dolor sit amet, consectetur adipisicing elit. Optio, neque qui velit. Magni dolorum quidem ipsam eligendi, totam, facilis laudantium cum accusamus ullam voluptatibus commodi numquam, error, est. Ea, consequatur.
b)
To check for arithmetic errors.
To facilitate the preparation of the financial statements.