Answer Happy

Question 2 The following is the Trial Balance of as at 28 February 2022. Capital Sales Purchases Bank (Cr) Cash Creditors Debtors Stationery Expense Rent Expense Salary Expense Advertising Expense Motor Vehicle - Cost Inventory - 01 March 2021 Printing Expense Page 16 of 18 FACULTY OF COMMERCE, MANAGEMENT AND LAW Repair Expense Drawings Computer Equipment - Cost The following errors were discovered during the financial year ended 28 February 2022. a) A debtor that was owing N$ 700 was erroneously written-off as bad debt. b) Cash receipt of $200 was recorded as bank receipt. c) A payment of N$ 2 000 received from a customer was recorded on supplier. d) Credit sales of N$ 1 500 was recorded to supplier account. e) Bank charge of $ 800 was completely omitted from the records. f) Stationery purchased of $ 1 800 was debited to advertisement. g) Printing that was purchased by EFT was completely ignored in the books, $780. h) A customer that was owing $1 700 was declared bankrupt and the transaction was not recorded. i) The owner withdraws a cheque for $500 and deposited in the business. j) Depreciation for motor vehicle was not provided for. Depreciation is at 10% straight line and no residual value. k) Depreciation for computer equipment was not provided for. Depreciation as at 15%, straight line with N$ 2 000 residual value. REQUIRED Prepare a corrected Trial Balance as at 28 February 2022, after incorporating the above errors (23 Marks). 23 Marks 178 920 300 500 203 000 68 900 12 800 66 660 102 300 12 200 3 660 15 800 4 100 184 000 18 400 6 220 8 300 25 000 19 200