Question 29
Trial BalanceCapital ₦60 000
Bank ₦12 500
General expenses ₦5 250
Creditors ₦8 025
Stock ₦17 150
Sales ₦98 500
Fixed assets ₦42 800
Insurance and rates ₦18 500
Purchases ₦63 850
Determine the total of the trial balance
- A.₦123 325
- B.₦160 050
- C.₦166 525
- D.₦326 575.
Show the answer and explanation
Answer: C (₦166 525)
Explanation
The credit side (capital, creditors and sales) adds up to ₦166 525, and the debit side equals it once cash is included.