Arthur started a new business on 1 January 20X3. You are supplied with the following nominal ledger accounts, which have been closed off and a trial balance extracted. These are Arthur's only transactions in this period.

Trial balance for Arthur as at 10 January 20X3:
...................................Debit .............. Credit
...................................... £ ......................... £
Cash ............................... 119
Sales ............................................. 372
Capital introduced ............................ 100
Bank account ..................... 742
Heat and light .................... 130
Motor vehicles .................. 500
...................................... 1,491 ....... 572
The trial balance should balance.
There are seven errors (six are double-entry errors, the other is a description error).
Required
a. Describe the entries required to correct the errors.
b. Redraft the amended ledger accounts and trial balance as on 10 January 20X3?

Transcribed Image Text:

Cash account Soles revenue occount Date Details Date Details Date Detoils Date Details £ 6 Jan Sales 100 9 Jan H&L 8 Jan Sales 6 Jan Cosh 8 Jan Cash 10 Jan Bank 80 100 98 129 89 10 Jan Bal /d 9 10 Jon Sa/c327 189 11 Jan Bol b/d 19 189 327 Capital introduced account Bank occounf Date Details £Date Details Date Details Date Details £ 1 Jan Bank ,00 on Cop int, 1,000 2 Jan H&L 192 3 Jon Von 50 500 10 Jan Bal c/d 742 1192 10 Jon Sales 10 Jan Capa/c 100 100 100 1.192 1 Jon Bel b/d 742 Heat and light account (H8) Motor vehidle occount Date Details SDate Details £Date Details £Date Details £ 2 Jan Bank 9 Jan Cash 3 Jan Bank 50 80 10 Jan IS a/c 130 500 10 Jan SIa/c 500 500 130 500