ACC 111 (PRINCIPLES OF ACCOUNTING 1)- ASSIGNMENT 5 FOR PART TIME

. (a) Define a trial balance and state six types of errors which do not affect the agreement of trial balance.

    (b) You are required to prepare a trial balance.

 The following balances were extracted from the books of Feyinkogbon and sons on 31^st December, 2018.

                                                                                                      N

Premises                                                                      150,000

Motor Vans                                                                   27,810

Capital                                                                         483,720

Advertising                                                                     3,810

Postage                                                                            4,140

Purchases                                                                 2,054,550

Electricity                                                                        2,730

Salaries                                                                          85,110

Tenement Rate                                                                3,030

Telephone                                                                        1,020

Furniture                                                                       33,120

Sales                                                                         2,204,940

Sales Returns                                                                 1,680                            

Purchases Returns                                                         11,760

Bad Debts                                                                          780

Insurance                                                                         5,760

Commissions received                                                  52,500

Debtors                                                                       146,460

Creditors                                                                     252,150

Cash in hand                                                                 10,560

Bank                                                                            113,760

Stock                                                                           360,750

TO BE SUBMITTED AFTER ELECTION. HAPPY NATIONAL 

COMPULSORY HOLIDAY FOR PRESIDENTIAL ELECTION.

 

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Assignment 3 and 4

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ACC 111 Lecture Notes: 

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ACC 101 Lecture Notes:

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Financial Statements:

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Text Book by Patriot Odunaro B.J:

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