The following trial balance for Rajiv Sharma as at 31 December has been incorrectly prepared.

Required:

A corrected trial balance as at 31 December.
Helpnote: If you rearrange the balances and the trial balance irritatingly still doesn’t balance, remember equity.

Transcribed Image Text:

Shop Machinery Car 55,000 45,000 10,000 Revenue 135,000 Purchases 80,000 Opening inventory 15,000 Trade receivables 12,000 Trade payables 8,000 Long-term loan 16,000 General expenses 300 Telephone 400 Light and heat 300 Repairs 400 284,700 92,700