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JSS3: BUSINESS STUDIES - 2ND TERM

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  1. Setting Simple Business Goals | Week 1
    3 Topics
    |
    1 Quiz
  2. Simple Single Business Plan | Week 2
    2 Topics
    |
    1 Quiz
  3. Consumer Protection Agencies | Week 3
    8 Topics
    |
    1 Quiz
  4. How to make Complaints | Week 4
    3 Topics
    |
    1 Quiz
  5. Reasons and Procedures for Banning and Restricting Chemicals not Suitable for Use | Week 5
    4 Topics
    |
    1 Quiz
  6. How to Seek Redress | Week 6
    3 Topics
    |
    1 Quiz
  7. Personal Finance | Week 7
    7 Topics
    |
    1 Quiz
  8. Trial Balance | Week 8
    3 Topics
    |
    1 Quiz
  9. Trading, Profit and Loss | Week 9
    2 Topics
    |
    1 Quiz
  10. Balance Sheet | Week 10
    1 Topic
    |
    1 Quiz
  11. Business Letters | Week 11
    2 Topics
    |
    1 Quiz
  12. Simple Tabulation - Table Creation | Week 12
    4 Topics
    |
    1 Quiz
  13. Manuscript Abbreviations and Erasing Technique | Week 13
    3 Topics
    |
    1 Quiz



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Steps in forming a trial balance:

1. To prepare a trial balance we need the closing balances of the ledger accounts and the cash book as well as the bank book.

2. Then prepare a three (3) column worksheet. One column for the account name and the corresponding columns for debit and credit balance.

3. Fill out the account name and the balance of such account in the appropriate debit or credit column

4. Then we total both the debit column and the credit column. Ideally, in a balanced error-free trial balance these total should be the same

5. Once you compare the total and the totals are the same you close the trial balance. If there is a difference we try and find and rectify errors.

Extraction balance from ledger into the trial balance in preparing the trial balance, the balance in the respective ledgers are listed under debit and credit before adding up the figures. The trial balance of Kogberegbe and sons Ltd, as represented by the debit and credit balances in their ledger is hereby shown.

Kogberegbe and Sons Limited

Trial Balance as at 31ST December 2019.

trial balance
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