Adjustment: Using the trial balance prepared above, adjust the trial balance figures based on the additional information given here: The owner has used $100 cash of the business fund for his personal use. This transaction has not been recorded yet. 1. A telephone bill of $600 that was paid by cash has not been recorded yet. 2. The owner has purchased another second-hand motor vehicle that cost him $12,000 which he paid in cash. This amount has not been recorded in any accounts. 3. Show your working: Example:

Adjustment: Using the trial balance prepared above, adjust the trial balance figures based on the additional information given here: The owner has used $100 cash of the business fund for his personal use. This transaction has not been recorded yet. 1. A telephone bill of $600 that was paid by cash has not been recorded yet. 2. The owner has purchased another second-hand motor vehicle that cost him $12,000 which he paid in cash. This amount has not been recorded in any accounts. 3. Show your working: Example:

Name: (b)This is the trial balanceDebitCreditInventory as at 1 October 2020
Uploaded: 2024-03-04T10:43:15.000Z
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Description: (b)This is the trial balanceDebitCreditInventory as at 1 October 2020Telephone expenseCommission received11,00028,00030,000Return Outwards53,00050,200PurchasesDiscount Received10,000Sales160,0008,000Returns InwardsShop lot: at costElectricity expens

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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