Arthur started a new business on 1 January 20X9. You are supplied with the following nominal ledger accounts, which have been closed off and a trial balance extracted. These are Arthur’s only transactions in this period.

Trial balance for Arthur as at 10 January 20X9:

The trial balance should balance.
There are seven errors (six are double-entry errors, the other is a description error).

Required
a. Describe the entries required to correct the errors.
b. Redraft the amended ledger accounts and trial balance as at 10 January 20X9.

Transcribed Image Text:

Cash account Date Details £ Date Details £ Date 80 6 Jan Sales 100 9 Jan H&L 8 Jan Sales 89 189 11 Jan Bal b/d 119 10 Jan Bal c/d Capital introduced account Date Details £ Date 1 Jan 10 Jan Cap a/c 100 100 119 189 Details £ Bank 1,000 100 Date 1 Jan. 10 Jan Sales revenue account 10 Jan P/L a/c 11 Jan Details £ Date 6 Jan 8 Jan 10 Jan 327 327 Bank account Details £ Date Cap int. 1,000 2 Jan Sales 192 3 Jan Bal b/d 1,192 742 10 Jan Details £ Cash 100 Cash 98 Bank 129 Details H&L Van Bal c/d 327 £ 50 500 742 1,192