Adjustments to the Trial Balance. Using Clarabel case scenario (Lectures 4,5, and 6) and other examples produce your own case study where you draw up an imaginary businesss Trial Balance (as at 01.09.2020) and come up with a list all adjustments

example

I have uploaded the sample and the template that I need to fill in. This is a fictitious company, you can write any data you want. Just follow the sample and write the template

template

Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do X Times New Roman 12 A Wrap Text General BIU. Merge & Center - C. % ) 000 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum - A Z Sart Clear Filter Editing Font TS Alignment Number 19 Cells fx XXXXX Trial Balance as at 01.09.2020: A B D E F G H 1 J PUT YOUR BUSINESS NAME HERE Trial Balance as at 01.09.2020 Balance at XXXXX Trial 01.09.2020 DE Additional Information for further Trial Balance adjustment 2 3 1 Closing inventory has been valued at XXXXX at as at XX.XX 20XX: 4 5 6 7 B 2 Case of depretiation 3 Case of prepayment 9 4 Case of accrual 11 5 Case of bad debts 13 14 15 16 am Easy Grow Gaming W 02:24 12/11/2020 Type here to search OH God Polin Poun entre has presented mber 2014 Dr CE Additional Information: f f 42.000 1 Closing inventory has been valued at 21,000 at 31 December 2014 32.000 50,000 2 The book-keeper did not know how to deal with the non-current asset transactions so the figures in the trial balanc 15,000 5,000 The following information may require adjustments to be made: 400 (a) You discover that the purchases includes a payment of 20,000 for new horticultural equipment, which should have b 13.400 200 26.800 29,000 (b) Some equipment was sold during the year for proceeds of 600. This equipment had orginally cast 3,000 and had ac 4 15 24.000 200 (c) The payment of 1,400 for the purchase of a motor vehicle is made up as of the cost of a new motor vehicle of 12.000 300 (d) The motor vehicle given in part exchange had an historic cost of $20,000 and accumulated depreciation of 5,000 at the s 16 17 18 19 20 2.400 600 25.100 20.500 Example 1 Spike the Builder (e) Depreciation is to be provided for the year on equipment and fittings at a rate of 30 per cent per annum or a reducing bal. + Depreciation is to be provided for the vear on motor vehicles at a rate of 25 per cent per animum on a straight line basis Example 2 Clarabel Examle 3 Easy Grow Gardening 4 me Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do TED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fax A B D E ollowing trial balance was extracted from the books of Spike, the local Barnsley builder as at 30 June 2015: e's Trial Balance as at 1 July 2014 DR ECR The following information was also available: ce's capital account as at 1 July 2014 49.400 (a) Stock at 30 June 2015 was valued at 71,369 otor vehicle at cost 30.000 (b) b The rent expense to be included in the income statement for the year to 30 2015 is 32,400 in total. 6,000 Provision for depreciation of Motor Vehicle as at 1 July 2014 (c) 2015 The electricity expense includes 580 paid in advance up to 30 Septem 10,000 596 Bank loan 0 11 (d) Bad debts of 780 are to be written off at 30 June 2015 and the provision fo doubtful debts is to be adjusted to 10% of the remaining debtors 34,200 Stock at 1 July 2014 12 13 (e) Wages outstanding at 30 June 2015 were 750. Debtors 14 15 Emnie 1 Spike the Builder (1) The depreciation charge for motor vehicles for the year to 30 June 2015 should be based on 20% of the reducing balance. Example 2 Clarabel Exam Grow Gardening Type here to search a Task 3 Trial Balance Examples (1).xlsx (Protected View) - Excel Home Invert Draw Page Layout Formular Data Review Help Tell me what you want to do TECTED VIEW Be carefules from the Internet can contain viruses less you need to edit it's safer to stay in Protected View Enable Editing C D E F G H larabel starts a new business on 1st December 2009 providing bespoke furniture for tressed out business executives. You are provided with a trial balance of her business 30th November 2010 "Harabel Trial Balance as at 1.12.2010 DR CR CAPITAL ACCOUNT 37.000 37000 LONG TERM LOAN ACCOUNT 20,000 20000 OFFICE FURNITURE & FITTINGS 18.000 18000 MOTOR VEHICLES 42,000 42000 COMPUTER EQUIPMENT 25,000 25000 DEBTORS LEDGER CONTROL 32,000 32000 BANK 4.600 10000 O CASIA 500 500 1 CREDITORS LEDGER CONTROL 21.000 21000 12 SALES 345,000 345000 13 PURCHASES 132,000 132000 14 PROCEEDS OF MOTOR VEHICLE DISPOSAL 2,300 2300 15 WACHES AND SALARIES 76,000 76000 16 RINT AND RATUS 25.000 25000 17 ADMINISTRATION EXPENSES 15,000 15000 18 HAT, LIGHT AND POWER 11,000 11000 19 DISCOUNT ALLOWED 1.200 1200 20 SELLING AND MARKETING EXPENSES 10.000 10000 21 LOAN INTEREST 3.000 3000 22. SUSPENSE ACCOUNT 8,300 X100 23 REPAIRS AND MAINTENANCE 30.000 20000 24 DRAWINGS 28.100 28100 25 DISCOUNT RECEIVED 600 600 26 43MOD #SHADO 27 T Balance Check DR CR 0 28 You are provided with the following additional information relating to adjustments which are needed in order to prepare the profit and low account and balance sheet for the year 1) The repairs and maintenance account includes 3,000 for the purchase of a portable computer which should have been capitalised 2) During November 2010 Clarabel received a gift of 8,000 from her Aunt in Tasmanin which she hud put into her businew bank account. Clarabel did not know how to deal with this item in her accounting records and had been advised by a friend to credit the item to a suspense account 3) When Clarabel had drawn up the trial balance she found that the debit column was 100 more than the credit column so she put the difference into the suspense nouount. You discover that the difference was caused by E300 of discount received which had been debited to the creditors ledger control account but had not recorded elsewhere. 1) Closing stock was physically counted and valued (ut cost price) at 14.000 5) Depreciation is to be charged on a straight line basis on Onice Furniture & Fittings at 20% per minum and on the Motor vehicles assuming a four year life with a negligible residual value. 6) Depreciation on computer equipment is to be charged at 40% per annum on a reducing balance basin 7CThe balance sheet should show.cost, necumulated depreciation and net book value for each type of sl.) 8) The example will be extended in class to show how the ants appearater the second year of trading.) 9) At the end of November 2010 Claribel sold one of the motor vehicles used by the business. The vehicle had cost 6,000 to purchase at the start of the year and was sold for 12.00 toylhe rent and rates of the business premises costs a total of 2,000 ch month (hing E.000 for rent and 1,000 for business rates). The rates are paid monthly by direct debit. The rent part wach qurter in advance and the last payment of 3.000 was made at the beginning of October and covered the month ended 11 December 2010 After the end of the counting year Clarabel receives at the electricity company for Example 1 Spieler sample 2 Cartel ER Type Bere to search ds 08:07 12/11/2020 x (0) PrtScn FB Home End Poup Pour De 15 FO FI HY MTV Task 3 Trial Balance Examples (1).xlsx [Protected View] - Excel RE de Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do ED VIEW Be careful - files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing x Trial Balance Check D E F G H J K L M N 15,000 5,000 The following information may require adjustments to be made: 400 (a) You discover that the purchases includes a payment of 20,000 for new horticultural equipment, which should have been treat- 13,400 200 26,800 22.000 (b) ( Some equipment was sold during the year for proceeds of 600. This equipment had originally cost 3,000 and had accumulatec 24,000 200 (c) The payment of 1,400 for the purchase of a motor vehicle is made up as of the cost of a new motor vehicle of 12,000 minus a 300 (d) The motor vehicle given in part exchange had an historic cost of 20,000 and accumulated depreciation of 5,000 at the start of the 2.400 600 (e) Depreciation is to be provided for the year on equipment and fittings at a rate of 30 per cent per annum on a reducing balance basi 25.100 20,500 (0) Depreciation is to be provided for the year on motor vehicles at a rate of 25 per cent per annum on a straight line basis 338,550 266,000 250 7,100 2.300 1,400 6 2.200 28 448,850 29 30 DR - CRE 448,850 a 32 34 Example 1 Spike the Builder Example 2 Claribel Type here to search O 08.07 12/11/2020 AutoSum Times New Roman - 12 . A 9 Wrap Text General - +0.00 BIU. a A A- . C. % ) Insert Delete Format Merge & Center - Clear Conditional Format as Cell Formatting Table - Styles Styles Font Alignment Number 1 E Cells fx XXXXX Trial Balance as at 01.09.2020: B D E F G H 1 1 K JT YOUR BUSINESS NAME HERE Trial Balance as at 01.09.2020 at XXX Trial Balance 09.2020: DI CE Additional Information for further Trial Balance adjustment E 1 Closing inventory has been valued at XXXXX at as at XXXX 20XX: 2 Case of depretiation 3 Case of prepayment 4 Case of accrual 5 Case of bad debts 1 2 14 15 16 17 18 Exame 3 Ewy Grow Gardening Type here to search PA 08.0 12/11/2 Home Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do X Times New Roman 12 A Wrap Text General BIU. Merge & Center - C. % ) 000 Insert Delete Format Conditional Format as Cell Formatting Table Styles Styles AutoSum - A Z Sart Clear Filter Editing Font TS Alignment Number 19 Cells fx XXXXX Trial Balance as at 01.09.2020: A B D E F G H 1 J PUT YOUR BUSINESS NAME HERE Trial Balance as at 01.09.2020 Balance at XXXXX Trial 01.09.2020 DE Additional Information for further Trial Balance adjustment 2 3 1 Closing inventory has been valued at XXXXX at as at XX.XX 20XX: 4 5 6 7 B 2 Case of depretiation 3 Case of prepayment 9 4 Case of accrual 11 5 Case of bad debts 13 14 15 16 am Easy Grow Gaming W 02:24 12/11/2020 Type here to search OH God Polin Poun entre has presented mber 2014 Dr CE Additional Information: f f 42.000 1 Closing inventory has been valued at 21,000 at 31 December 2014 32.000 50,000 2 The book-keeper did not know how to deal with the non-current asset transactions so the figures in the trial balanc 15,000 5,000 The following information may require adjustments to be made: 400 (a) You discover that the purchases includes a payment of 20,000 for new horticultural equipment, which should have b 13.400 200 26.800 29,000 (b) Some equipment was sold during the year for proceeds of 600. This equipment had orginally cast 3,000 and had ac 4 15 24.000 200 (c) The payment of 1,400 for the purchase of a motor vehicle is made up as of the cost of a new motor vehicle of 12.000 300 (d) The motor vehicle given in part exchange had an historic cost of $20,000 and accumulated depreciation of 5,000 at the s 16 17 18 19 20 2.400 600 25.100 20.500 Example 1 Spike the Builder (e) Depreciation is to be provided for the year on equipment and fittings at a rate of 30 per cent per annum or a reducing bal. + Depreciation is to be provided for the vear on motor vehicles at a rate of 25 per cent per animum on a straight line basis Example 2 Clarabel Examle 3 Easy Grow Gardening 4 me Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do TED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing fax A B D E ollowing trial balance was extracted from the books of Spike, the local Barnsley builder as at 30 June 2015: e's Trial Balance as at 1 July 2014 DR ECR The following information was also available: ce's capital account as at 1 July 2014 49.400 (a) Stock at 30 June 2015 was valued at 71,369 otor vehicle at cost 30.000 (b) b The rent expense to be included in the income statement for the year to 30 2015 is 32,400 in total. 6,000 Provision for depreciation of Motor Vehicle as at 1 July 2014 (c) 2015 The electricity expense includes 580 paid in advance up to 30 Septem 10,000 596 Bank loan 0 11 (d) Bad debts of 780 are to be written off at 30 June 2015 and the provision fo doubtful debts is to be adjusted to 10% of the remaining debtors 34,200 Stock at 1 July 2014 12 13 (e) Wages outstanding at 30 June 2015 were 750. Debtors 14 15 Emnie 1 Spike the Builder (1) The depreciation charge for motor vehicles for the year to 30 June 2015 should be based on 20% of the reducing balance. Example 2 Clarabel Exam Grow Gardening Type here to search a Task 3 Trial Balance Examples (1).xlsx (Protected View) - Excel Home Invert Draw Page Layout Formular Data Review Help Tell me what you want to do TECTED VIEW Be carefules from the Internet can contain viruses less you need to edit it's safer to stay in Protected View Enable Editing C D E F G H larabel starts a new business on 1st December 2009 providing bespoke furniture for tressed out business executives. You are provided with a trial balance of her business 30th November 2010 "Harabel Trial Balance as at 1.12.2010 DR CR CAPITAL ACCOUNT 37.000 37000 LONG TERM LOAN ACCOUNT 20,000 20000 OFFICE FURNITURE & FITTINGS 18.000 18000 MOTOR VEHICLES 42,000 42000 COMPUTER EQUIPMENT 25,000 25000 DEBTORS LEDGER CONTROL 32,000 32000 BANK 4.600 10000 O CASIA 500 500 1 CREDITORS LEDGER CONTROL 21.000 21000 12 SALES 345,000 345000 13 PURCHASES 132,000 132000 14 PROCEEDS OF MOTOR VEHICLE DISPOSAL 2,300 2300 15 WACHES AND SALARIES 76,000 76000 16 RINT AND RATUS 25.000 25000 17 ADMINISTRATION EXPENSES 15,000 15000 18 HAT, LIGHT AND POWER 11,000 11000 19 DISCOUNT ALLOWED 1.200 1200 20 SELLING AND MARKETING EXPENSES 10.000 10000 21 LOAN INTEREST 3.000 3000 22. SUSPENSE ACCOUNT 8,300 X100 23 REPAIRS AND MAINTENANCE 30.000 20000 24 DRAWINGS 28.100 28100 25 DISCOUNT RECEIVED 600 600 26 43MOD #SHADO 27 T Balance Check DR CR 0 28 You are provided with the following additional information relating to adjustments which are needed in order to prepare the profit and low account and balance sheet for the year 1) The repairs and maintenance account includes 3,000 for the purchase of a portable computer which should have been capitalised 2) During November 2010 Clarabel received a gift of 8,000 from her Aunt in Tasmanin which she hud put into her businew bank account. Clarabel did not know how to deal with this item in her accounting records and had been advised by a friend to credit the item to a suspense account 3) When Clarabel had drawn up the trial balance she found that the debit column was 100 more than the credit column so she put the difference into the suspense nouount. You discover that the difference was caused by E300 of discount received which had been debited to the creditors ledger control account but had not recorded elsewhere. 1) Closing stock was physically counted and valued (ut cost price) at 14.000 5) Depreciation is to be charged on a straight line basis on Onice Furniture & Fittings at 20% per minum and on the Motor vehicles assuming a four year life with a negligible residual value. 6) Depreciation on computer equipment is to be charged at 40% per annum on a reducing balance basin 7CThe balance sheet should show.cost, necumulated depreciation and net book value for each type of sl.) 8) The example will be extended in class to show how the ants appearater the second year of trading.) 9) At the end of November 2010 Claribel sold one of the motor vehicles used by the business. The vehicle had cost 6,000 to purchase at the start of the year and was sold for 12.00 toylhe rent and rates of the business premises costs a total of 2,000 ch month (hing E.000 for rent and 1,000 for business rates). The rates are paid monthly by direct debit. The rent part wach qurter in advance and the last payment of 3.000 was made at the beginning of October and covered the month ended 11 December 2010 After the end of the counting year Clarabel receives at the electricity company for Example 1 Spieler sample 2 Cartel ER Type Bere to search ds 08:07 12/11/2020 x (0) PrtScn FB Home End Poup Pour De 15 FO FI HY MTV Task 3 Trial Balance Examples (1).xlsx [Protected View] - Excel RE de Insert Draw Page Layout Formulas Data Review View Help Tell me what you want to do ED VIEW Be careful - files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing x Trial Balance Check D E F G H J K L M N 15,000 5,000 The following information may require adjustments to be made: 400 (a) You discover that the purchases includes a payment of 20,000 for new horticultural equipment, which should have been treat- 13,400 200 26,800 22.000 (b) ( Some equipment was sold during the year for proceeds of 600. This equipment had originally cost 3,000 and had accumulatec 24,000 200 (c) The payment of 1,400 for the purchase of a motor vehicle is made up as of the cost of a new motor vehicle of 12,000 minus a 300 (d) The motor vehicle given in part exchange had an historic cost of 20,000 and accumulated depreciation of 5,000 at the start of the 2.400 600 (e) Depreciation is to be provided for the year on equipment and fittings at a rate of 30 per cent per annum on a reducing balance basi 25.100 20,500 (0) Depreciation is to be provided for the year on motor vehicles at a rate of 25 per cent per annum on a straight line basis 338,550 266,000 250 7,100 2.300 1,400 6 2.200 28 448,850 29 30 DR - CRE 448,850 a 32 34 Example 1 Spike the Builder Example 2 Claribel Type here to search O 08.07 12/11/2020 AutoSum Times New Roman - 12 . A 9 Wrap Text General - +0.00 BIU. a A A- . C. % ) Insert Delete Format Merge & Center - Clear Conditional Format as Cell Formatting Table - Styles Styles Font Alignment Number 1 E Cells fx XXXXX Trial Balance as at 01.09.2020: B D E F G H 1 1 K JT YOUR BUSINESS NAME HERE Trial Balance as at 01.09.2020 at XXX Trial Balance 09.2020: DI CE Additional Information for further Trial Balance adjustment E 1 Closing inventory has been valued at XXXXX at as at XXXX 20XX: 2 Case of depretiation 3 Case of prepayment 4 Case of accrual 5 Case of bad debts 1 2 14 15 16 17 18 Exame 3 Ewy Grow Gardening Type here to search PA 08.0 12/11/2