Wednesday, September 11, 2019

ACC 111- PRINCIPLES OF ACCOUNTING 1 PART TIME


(a) Assignment Won Wa Die Limited provides the following information as at 31st December, 2018.

N
Purchases
    2,763,000.00
Revenue
  10,863,000.00
Drawing
    1,057,500.00
Return Inwards
       547,500.00
Return Outwards
       465,000.00
Discount Allowed
       765,000.00
Discount Received
       630,000.00
Trade Receivables
    3,375,000.00
Trade Payables
    4,282,500.00
Inventory
    2,572,500.00
Land
       345,000.00
Motor at cost
       900,000.00
Furniture at cost
       187,500.00
Accumulated depreciation on motor
       337,500.00
Accumulated depreciation on furniture
        75,000.00
Cash at bank
       375,000.00
Cash in hand
       142,500.00
Salaries
    3,045,000.00
Carriage Inwards
    1,665,000.00
Carriage Outwards
       772,500.00
Printing and Stationery
       270,000.00
Electricity and water
    1,110,000.00
Insurance
       510,000.00
General Expenses
    2,610,000.00
Provision for bade debt
        15,000.00
Bad debt already written off
        30,000.00
Capital
    5,250,000.00
Rent Received
       285,000.00
Commission Received
       840,000.00
Prepare a trial balance for the company as at that date.
(b) State what the Accountant will do if the error still cannot be located in the trial balance.


INSTRUCTION: SUBMIT  TO YOUR CLASS GOVERNORS
                         ON OR BEFORE 9A.M
                             SATURDAY SEPTEMBER 14, 2019.
YOU ARE ALL WELCOME TO SECOND SEMESTER SUMMER 2019.
PATRIOT ODUNARO B.J. (08038454008)
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