financial statement Assignment 2 On 31st March, 2022 the following Trial Balance was extracted from the books of Mr. Ben. Debit Balances Rs Credit Balances Rs. Sundry Debtors 20,100 Capital 28,000 Drawings 3,000 Loan on Mortgage 9,500 Bills receivables 6,882 Rent received 250 Interest on Loan 300 Bill Payable 2,614 Cash at Bank 3,555 Sales […]
Write a short 1-page report explaining the importance of a Trial Balance in Accounting. 1-page report double spaced APA style.
Assignment Question(s): Q1. On your own words, outline the accounting principles and assumptions and explain each one. Q2. What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance. Q3. Based on the following trial balance for ABC Co, prepare an income statement, statement of retained earnings and a […]
College of Administrative and Financial Sciences Assignment 1 Deadline: 8/10/2022@ 23:59 Course Name:Principles of Accounting Student’s Name: Course Code: ACCT 101 Student’s ID Number: Semester: 1 CRN: Academic Year: 1444/1445 H For Instructor’s Use only Instructor’s Name: Students’ Grade: / 15 Level of Marks: High/Middle/Low The Assignment must be submitted on Blackboard via allocated folder. […]
Q1. On your own words, outline the accounting principles and assumptions and explain each one. Q2. What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance. Q3. Based on the following trial balance for ABC Co, prepare an income statement, statement of retained earnings and a balance sheet. […]
Discuss 5 types of common errors appearing in a trial balance.
