Question: The tn'al balance shown below contains four (4} errors that were made during the preparation of the report. Using your knowledge of the debit and

 The tn'al balance shown below contains four (4} errors that were

The tn'al balance shown below contains four (4} errors that were made during the preparation of the report. Using your knowledge of the debit and credit nature of ledger accounts. undertake the following three activitiesw a} Locate and correct the errors, one is a suspect balancee b} Use the spreadsheet supplied to you to make the oorrections. Highlight the correctiony c} Describe the error and the reason for the COHEC'thF'I_4-' Joe's .Jumbucks+J Trial Balance as at 30 June 201843 Acmunt lilameiJ Cash at banklJ Sto cqu Trade debtors controhJ Input tax credits {EST on purchasesjuJ Furniture and ttings+J Motor yehicles+J Trade creditors COI'ItrOIP GST payable [EST on saleslnJ Loan from That BanltaJ Capital .JoeqJ Drawings - JDEP' Sales:J Sales retums 8; allowance-s4J ttttttt't. Commission receiy'eduJ .2; L0 =1 1:. Dismunt receiyed4J PurchasesaJ Purchase retums St allowance-54J Dismunt alloy-remJ till-lagesiJ Advertising 4:: Trade creditors control:I CL1 *3 Jul 4: Parliculars

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!