ASSIGNMENT OF ACC 111 FOR BOTH FULL TIME AND PART TIME ON TRIAL BALANCE

                         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

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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 31^st 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!