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    IGCSE Accounting Trial Balance

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    This document provides a trial balance practice question for the books of Veronica on June 30, 20-7. It lists account balances and requires the student to state two reasons for preparing a trial balance, prepare the trial balance inserting a figure for capital, and name and explain two errors not revealed by a trial balance.

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    IGCSE Accounting Trial Balance

    Uploaded by

    Hi
    570 views2 pages
    This document provides a trial balance practice question for the books of Veronica on June 30, 20-7. It lists account balances and requires the student to state two reasons for preparing a trial balance, prepare the trial balance inserting a figure for capital, and name and explain two errors not revealed by a trial balance.

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    This document provides a trial balance practice question for the books of Veronica on June 30, 20-7. It lists account balances and requires the student to state two reasons for preparing a trial balance, prepare the trial balance inserting a figure for capital, and name and explain two errors not revealed by a trial balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    570 views2 pages

    IGCSE Accounting Trial Balance

    Uploaded by

    Hi
    This document provides a trial balance practice question for the books of Veronica on June 30, 20-7. It lists account balances and requires the student to state two reasons for preparing a trial balance, prepare the trial balance inserting a figure for capital, and name and explain two errors not revealed by a trial balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    TRIAL BALANCE PRACTICE QUESTION

    The following balances appeared in the books of Veronica on 30 June 20–7:

    $
    Machinery and equipment 108 000
    Motor vehicles 31 000
    Trade payables 7 800
    Balance at bank 3 830
    Trade receivables 11 500
    Carriage inwards 380
    Carriage outwards 440
    Sales 131 000
    Purchases 101 900
    Rent receivable 3 600
    Rent payable 8 400
    Inventory 13 200
    Commission receivable 1 950
    Administration expenses 9 600
    Capital ?

    REQUIRED
    a State two reasons why a trial balance is prepared. [2]

    Reason 1:
    ……………………………………………………………………………………………………………………………………………………
    ……………………………………………………………………………………………………………………………………………………
    …………………………………………………………………………………………………………………………………………………..

    Reason 2:
    ……………………………………………………………………………………………………………………………………………………
    ……………………………………………………………………………………………………………………………………………………
    …………………………………………………………………………………………………………………………………………………..

    1
    b Prepare a trial balance for Veronica on 30 June 20–7, inserting a figure for the capital account.

    [16]

    Veronica
    Trial Balance on 30 June 20-7
    Dr Cr

    c Name and explain two errors which will not be revealed by a trial balance. [2]

    Error 1:
    ……………………………………………………………………………………………………………………………………………………
    ……………………………………………………………………………………………………………………………………………………
    …………………………………………………………………………………………………………………………………………………..

    Error 2:
    ……………………………………………………………………………………………………………………………………………………
    ……………………………………………………………………………………………………………………………………………………
    …………………………………………………………………………………………………………………………………………………..

    [Total: 20]

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