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QUESTION 1 You have been appointed as the junior financial accountant of the black Itd group. The company CEO received notification from the accounts manager, that their computerized accounting system has been corrupted by computer virus. A trial balance which was generated by the system is therefore incorrect. The nominal and balance sheet section are no longer in the correct order. However the amounts are correct. TRIAL BALANCE OF BLACK LTD GROUP FOR THE YEAR ENDED FEBRUARY 2022 Fol Debit Credit R Balance sheet account section Advertising Capital Water and electricity Staff training Salaries and wages Bad debts Debtors Allowances Bank Discount received Petty cash Cash float Creditors Control Vehicle Sales Nominal account section Cost of sales Drawings Land and building Equipment Fixed Deposit ABSA Bank (8%) Cleaning material Computer expenses Interest on loan Trading Inventory Rent income Debtors control Loan Standard Bank (15%) Packing material Rates and taxes R 18 045 28 565 5 028 36 661 1907 8 600 23 560 1200 199 300 00 850 00 215 408 54 800 150 000 73 849 100 000 6980 12 705 8 043 50 500 36 980 C 2980 14 008 1049 969 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 5 608 400 000 00 41 039 445 322 8 000 (80) 150 000 1 049 969 C 00 00 00 00 00

QUESTION 1 You have been appointed as the junior financial accountant of the black Itd group. The company CEO received notification from the accounts manager, that their computerized accounting system has been corrupted by computer virus. A trial balance which was generated by the system is therefore incorrect. The nominal and balance sheet section are no longer in the correct order. However the amounts are correct. TRIAL BALANCE OF BLACK LTD GROUP FOR THE YEAR ENDED FEBRUARY 2022 Fol Debit Credit R Balance sheet account section Advertising Capital Water and electricity Staff training Salaries and wages Bad debts Debtors Allowances Bank Discount received Petty cash Cash float Creditors Control Vehicle Sales Nominal account section Cost of sales Drawings Land and building Equipment Fixed Deposit ABSA Bank (8%) Cleaning material Computer expenses Interest on loan Trading Inventory Rent income Debtors control Loan Standard Bank (15%) Packing material Rates and taxes R 18 045 28 565 5 028 36 661 1907 8 600 23 560 1200 199 300 00 850 00 215 408 54 800 150 000 73 849 100 000 6980 12 705 8 043 50 500 36 980 C 2980 14 008 1049 969 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 5 608 400 000 00 41 039 445 322 8 000 (80) 150 000 1 049 969 C 00 00 00 00 00

FINANCIAL ACCOUNTING
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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As a Junior Financial Accounted of Black Ltd Group You Must use above Corrupted information to prepare the Trail Balance in a Correct order
QUESTION 1 You have been appointed as the junior financial accountant of the black Itd group. The company CEO received notification from the accounts manager, that their computerized accounting system has been corrupted by computer virus. A trial balance which was generated by the system is therefore incorrect. The nominal and balance sheet section are no longer in the correct order. However the amounts are correct. TRIAL BALANCE OF BLACK LTD GROUP FOR THE YEAR ENDED FEBRUARY 2022 Fol Debit Credit R Balance sheet account section Advertising Capital Water and electricity Staff training Salaries and wages Bad debts Debtors Allowances Bank Discount received Petty cash Cash float Creditors Control Vehicle Sales Nominal account section Cost of sales Drawings Land and building Equipment Fixed Deposit ABSA Bank (8%) Cleaning material Computer expenses Interest on loan Trading Inventory Rent income Debtors control Loan Standard Bank (15%) Packing material Rates and taxes R 18 045 28 565 5 028 36 661 1907 8 600 23 560 1 200 850 199 300 215 408 54 800 150 000 73 849 100 000 6980 12 705 8 043 50 500 36 980 2 980 14 008 1049 969 C 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 400 000 5 608 (80) 8 000 41 039 00 150 000 C 445 322 00 1 049 969 00 00 00 00
Transcribed Image Text:QUESTION 1 You have been appointed as the junior financial accountant of the black Itd group. The company CEO received notification from the accounts manager, that their computerized accounting system has been corrupted by computer virus. A trial balance which was generated by the system is therefore incorrect. The nominal and balance sheet section are no longer in the correct order. However the amounts are correct. TRIAL BALANCE OF BLACK LTD GROUP FOR THE YEAR ENDED FEBRUARY 2022 Fol Debit Credit R Balance sheet account section Advertising Capital Water and electricity Staff training Salaries and wages Bad debts Debtors Allowances Bank Discount received Petty cash Cash float Creditors Control Vehicle Sales Nominal account section Cost of sales Drawings Land and building Equipment Fixed Deposit ABSA Bank (8%) Cleaning material Computer expenses Interest on loan Trading Inventory Rent income Debtors control Loan Standard Bank (15%) Packing material Rates and taxes R 18 045 28 565 5 028 36 661 1907 8 600 23 560 1 200 850 199 300 215 408 54 800 150 000 73 849 100 000 6980 12 705 8 043 50 500 36 980 2 980 14 008 1049 969 C 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 400 000 5 608 (80) 8 000 41 039 00 150 000 C 445 322 00 1 049 969 00 00 00 00
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