Accounting 0452 · IGCSE · The trial balance

The trial balance — practice question

The account below was entered in Abdul's books. Hanif account for 2020, with balance b/d $400$, purchases $250$, returns $100$, bank $392$, discount $8$, and balance c/d $150$. Which of the following statements is correct?

  • AOn 1 January Abdul owed Hanif $400$.
  • BOn 4 January Hanif purchased goods, $250$, from Abdul.
  • COn 31 January Abdul allowed Hanif $8$ trade discount.
  • DOn 31 January Hanif owed Abdul $150$.

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