1
The following is a trial balance which has been incorrectly drawn up:
Trial Balance at 31 January 2003
£ £
Capital 1 February 2002 7,845
Drawings 19,500
Stock 1 February 2002 8,410
Trade debtors 34,517
Furniture and fittings 2,400
Cash in hand 836
Trade creditors 6,890
Sales 127,510
Returns inwards 2,438
Discount received 1,419
Business expenses 3,204
Purchases 72,100
107,304 179,765
In addition to the mistakes evident above, the following errors were also discovered:
1
A payment of £315 made to a creditor had not been posted from the cash book into the purchases
ledger.
2
A cheque for £188 received from a customer had been correctly entered in the cash book but
posted to the customer’s account as £180.
3
A purchase of fittings £407 had been included in the purchases account.
4
The total of the discounts allowed column in the cash book of £42 had not been posted into the
general ledger.
5
A page of the sales day book was correctly totalled as £675 but carried forward as £765.
Show the trial balance as it would appear after all the errors had been corrected. Show all your
workings.