Solved: The following trial balance of a sole trader although it, Accounting Basics

+44 141 628 6080
[email protected]

The following trial balance of a sole trader although it

Question: The following Trial Balance of a sole trader, although it adds up to the same total on both sides, is incorrect:

Trial Balance at 30th June, 1962 Dr, Cr
£ £

Capital, 1st July, 1961 8,950

Drawings 1,050

Stock, 1st July, 1961 3,725

Purchases 23,100

Sales 39,425

Wages and Salaries 6,205

Lighting and Heating 310

Equipment 3,600

Carriage Outwards 230

Returns Inwards 105

Returns Outwards 290

Provision for Bad Debts 350

Discount Allowed 285

Discount Received 315

Rent, Rates & Insurance 1,115

Motor Vehicles 1,475

Cash in Hand 110

Sundry Creditors 4,925

Sundry Debtors 13,920

Bank Overdraft 975

£55,230 £55,230

Draw up a corrected Trial Balance.

View Complete Question

Solution Preview :

Prepared by a verified Expert

Accounting Basics: The following trial balance of a sole trader although it

Reference No:- TGS02333047

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

Examine historical literature to the most current period

Examine historical literature to the most current period to see the growth of romanticism and EXISTENTIALISM. any major developments

Identify one antecedent, one behaviour, and one consequence

Sahir is the most active student in your kindergarten class. He tends to be very disruptive when the teacher you work with is teaching the class,

Is lifespan psychologists are unlikely to investigate

Lifespan psychologists are unlikely to investigate both changes as well as consistencies that exist in different individuals'

Provide reasons why working from a person centred

Provide five (5) reasons why working from a person centred, strengths-based positive framework, and providing positive lifestyle strategies can reduce

Describe some of your personality traits

Adler believed that your birth order determines, to a large extent, your personality. He stated that your traits reflect, somehow, how you have achieved

Problem concerning consensual sexual relationship

Question: Jena and Ben are employees of Big City Electronics. They began to have a consensual sexual relationship.

Identify a specific theory of cognitive or moral development

Problem 1: Identify a specific theory of cognitive or moral development, and summarize the major assumptions.

Solution Preview :

Prepared by a verified Expert

Accounting Basics: The following trial balance of a sole trader although it

Reference No:- TGS02333047

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Since the construction industry is notorious for having

Q : Analyze the structure and function of public health at

Q : All else constant which of the following will increase the

Q : Do you want the volatility of interest rates to be

Q : The following trial balance of a sole trader although it

Q : On 1st january 1962 the provision for bad debts account in

Q : Describe and analyze current and targeted hr work processes

Q : Discuss three 3 recruitment sources available to you and

Q : A manufacturer who prepares his accounts to 31st december