Answer to Question #127426 in Accounting for Letlhogonolo

Question

You are provided with the following trial balance of Kolbe traders for
February 2020.
Trial balance of Kolbe Traders at 29 February 2020
Fol Debit Credit
Statement of Financial Position Section
Capital B1 500 000
Equipment B2 200 000
Vehicles 40 000
Bank B3 5 000
Rent expense B4 20 000

Nominal Accounts section
Sales N1 65 000
Telephone N2 2 000
Repairs and maintenance N3 3 000
Interest expense N4 1 000
Salaries N5 24 000
? ?
Required:
Identify any errors/omissions on this trial balance and suggest how it should be corrected

Answer 1

Dear Letlhogonolo , your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order