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
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a)
b)
To check for arithmetic errors.
To facilitate the preparation of the financial statements.