Consider the following Information You are required to: i. You are required to prepare a Trial Balance, (7 marks) ii. Cons consider the adjustments at the bottom of the Trial Balance. Draw up the journal, with corrected entries (leave out narrations) (8 marks) iii. Then prepare the Adjusted Trial Balance. (10 marks) ` B Ltd Unadjusted Trial Balance as on 31 December 31, 2016

furniture 20000

suspense Account 8000

Purchases Returns 13000

Machinery 34000

Salaries 17200

Accounts Payable 3300

Cash in hand 40000

Transportation Inwards 6000

Rent Received. 3000

Discount Allowed. 2000

Purchases. 100000

Bill Payable 20000

Accounts Receivable. 15000

Transportation Outwards. 5000

Owner Equity 53200

Building. 18000

Return Inwards 3000

Discount received 14000

Insurance expense. 6000

Sales. 130000

Adjustments: 1. Salary payable as at 31 December, 2016 is 1500

2. Depreciation on furniture charged 10% by cost method

3. Inventory on hand, December 2016, $60,000

4. $30,000 of sales account is unearned