PATRIOT ODUNARO BABATUNDE JIMOH (08038454008)
"IN ALL YOUR GETTING GET WISDOM".
NOTICE: STUDENTS DON`T COPY YOURSELVES, JUST BE YOURSELF. IT IS WELL WITH OUR SOUL ALLAHUMO KUNFAYAKUN AMIN.
TO WHOM:
* ACCOUNTANCY DEPARTMENT
* BUSINESS ADMINISTRATION DEPARTMENT
* COMPUTER SCIENCE DEPARTMENT
* OFFICE TECHNOLOGY AND MANAGEMENT DEPARTMENT
FOR MENTAL FACULTY: CLICK https://britstutors.blogspot.com/2019/12/mychoco-alkaline-chocolate-drink-and.html
FOR PREVIOUS LECTURE NOTES, CLICK
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ASSIGNMENT 1
(a) What do you understand by a Trial
Balance?
(b) Fesojaiye
Nigeria Limited provides the following information and you are required to
prepare a trial balance as at 31st December, 2019.
N
Purchases 921,000.00
Revenue 3,621,000.00
Drawing
352,500.00
Return Inwards 182,500.00
Return Outwards 155,000.00
Discount Allowed 255,000.00
Discount Received 210,000.00
Trade Receivables
1,125,000.00
Trade Payables 1,427,500.00
Inventory 857,500.00
Land
115,000.00
Motor at cost 300,000.00
Furniture at cost 62,500.00
Accumulated depreciation on motor 112,500.00
Accumulated depreciation on furniture 25,000.00
Cash at bank 125,000.00
Cash in hand 47,500.00
Salaries
1,015,000.00
Carriage Inwards 555,000.00
Carriage Outwards 257,500.00
Printing and Stationery 90,000.00
Electricity and water 370,000.00
Insurance 170,000.00
General Expenses 870,000.00
Provision for bade debt 5,000.00
Bad debt already written off 10,000.00
Capital
1,750,000.00
Rent Received 95,000.00
Commission Received 280,000.00
ASSIGNMENT 2
(a) Assignment
Won Wa Die Limited provides the following information as at 31st December,
2019.
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
|
(b) State what the Accountant will do if
the error still cannot be located in the trial balance.
BEST OF LUCK!
BEST OF LUCK!
