Post Utme Ims U 2020 Accounting Question 34

A company's trial balance as at 31st December, 2020 is as follows: | Account | Debit | Credit | | --- | --- | --- | | Cash | ₦10,000 | ₦0 | | Bank | ₦0 | ₦20,000 | | Sales | ₦0 | ₦50,000 | | Purchases | ₦40,000 | ₦0 | | Capital | ₦0 | ₦30,000 | | Profit | ₦0 | ₦0 | | Drawings | ₦0 | ₦10,000 | | Rent | ₦0 | ₦5,000 | | Salaries | ₦0 | ₦10,000 | | Interest | ₦0 | ₦2,000 | | Dividend | ₦0 | ₦5,000 | | Discount | ₦0 | ₦1,000 | | Bad Debts | ₦0 | ₦2,000 | | Provision for Bad Debts | ₦0 | ₦1,000 | | Depreciation | ₦0 | ₦5,000 | | Provision for Depreciation | ₦0 | ₦2,000 | | Profit and Loss Account | ₦0 | ₦0 | | Balance Sheet | ₦0 | ₦0 | Determine the correct order of preparation of the final accounts.