ACC 102 Trial Balance Class Exercises Question One Mary Ovo Enterprises List of Balances as at 31 December 2018 Cash 76,155 Bank 149,835 Trade Receivables 11,970 Capital 330,000 Rent 10,800 Furniture & Fittings 21,000 Purchases 57,405 Interest Income 1,500 Bad Debts 2.100 Drawings 3,600 Return Inwards 240 Sales 96,570 Motor Vehicles 90,000 9% Treasury Bills 36,000 Salary 4,980 15% Loan Debenture 30,000 Carriage Inwards 600 Carriage Outwards 2.100 Insurance 900 Discount Allowed 900 Discount Received 390 Interest on Debentures 225 Return Outwards 330 Trade Payables 19,200 Provision for Dep 50, 820 Required: From the list of balances above, you are required to prepare the Trial Balance as at 31 December 2018 Question Two Neepo Ltd has the following transactions for the first week of January 2017. 1" Started business with cash at N500,000 11:39 AM Thu 8 Oct 9o 41% Trial Balance Class Exercises.docx " Bought delivery van from SCOA motors N350,000 and paid cash of N50,000 as deposit. 1" Paid rent of N120,000 in cash 2 Purchased office fumiture in cash N20,000 34 Purchased goods of N50,000 in cash and that same date purchased goods worth N200,000 on credit from modem stores. 4 Sold goods to Kim & sons N300,000 5 Sold goods in cash NI 50,000 6 Kim & Sons returned goods of N30,000 7 Cash sales N40,000 7" Paid wages N8,000 7" Paid SCOA motors N150,000 You are required to journalize the above transactions, post to the ledger and extract a trial balance