Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following is the trial Balance of Fisheries Melbourne Pty Ltd. Their manager has got little experience in accounting and he has furnished the following

image text in transcribed

The following is the trial Balance of Fisheries Melbourne Pty Ltd. Their manager has got little experience in accounting and he has furnished the following Trial balance for you to identify and discuss the error. Trial Balance for Fisheries Melbourne as on 30/06/2020 Debit $ 79,075 $ 105 Credit Bank GST Paid Equipment GST Collected Loan Capital Drawings Service Revenue Electricity Telephone $ $ $ 500 500 15,000 S 60,000 $ 120 $ $ 5,000 200 $ $ 500 16,620 S 144,380 Prepare the correct Trial Balance below and discuss the errors with the trainer Trial Balance for Fisheries Melbourne as on 30/06/2020 Debit Credit Bank GST Paid Equipment GST Collected Loan Capital Drawings Service Revenue Electricity Telephone Highlight the errors identified and corrected below Focus

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Advanced Financial Accounting

Authors: Theodore Christensen, David Cottrell, Cassy Budd

12th Edition

1260165116, 9781260165111

More Books

Students also viewed these Accounting questions

Question

Box

Answered: 1 week ago