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Reconstruct the trial balance below after making the necessary corrections. Start with the balance on the trial balance and list only items that needs to adjusted. Show your workings   Trial balance of T Higgins as at 30 September 2019   Debit credit   £ £ Capital 19,956   Sales   119,439 Stationery 1,200   General Expenses 2,745   Motor expenses   4,476 Cash at bank 1,950   Inventory 7,668   Wages and salaries   9,492 Rent and Rates 10,500   Office equipment 6,000   Purchases 81,753   Heating and Lighting   2,208 Rent received 2,139   Account receivable 10,353   Drawings   4,200 Account payable   10,230 Motor Vehicle 7,500   Interest received 1,725   Insurance   3,444   153,489 153,489

Reconstruct the trial balance below after making the necessary corrections. Start with the balance on the trial balance and list only items that needs to adjusted. Show your workings   Trial balance of T Higgins as at 30 September 2019   Debit credit   £ £ Capital 19,956   Sales   119,439 Stationery 1,200   General Expenses 2,745   Motor expenses   4,476 Cash at bank 1,950   Inventory 7,668   Wages and salaries   9,492 Rent and Rates 10,500   Office equipment 6,000   Purchases 81,753   Heating and Lighting   2,208 Rent received 2,139   Account receivable 10,353   Drawings   4,200 Account payable   10,230 Motor Vehicle 7,500   Interest received 1,725   Insurance   3,444   153,489 153,489

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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Reconstruct the trial balance below after making the necessary corrections. Start with the balance on the trial balance and list only items that needs to adjusted. Show your workings

 

Trial balance of T Higgins as at 30 September 2019

 

Debit

credit

 

£

£

Capital

19,956

 

Sales

 

119,439

Stationery

1,200

 

General Expenses

2,745

 

Motor expenses

 

4,476

Cash at bank

1,950

 

Inventory

7,668

 

Wages and salaries

 

9,492

Rent and Rates

10,500

 

Office equipment

6,000

 

Purchases

81,753

 

Heating and Lighting

 

2,208

Rent received

2,139

 

Account receivable

10,353

 

Drawings

 

4,200

Account payable

 

10,230

Motor Vehicle

7,500

 

Interest received

1,725

 

Insurance

 

3,444

 

153,489

153,489

 

 

 
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