长征的诗Chapter 6 : The Trial Balance
A trial balance is a simple way of checking that all entries made in the ledger have been completed correctly. When transactions are entered in the ledger accounts every debit entry will have a corresponding credit entry, therefore in principle the debit balances should equal the credit balances.
A trial balance is a list of balances only, arranged in two columns according to whether they are debit balances or credit balances. When all the balances are entered, the two columns are totaled and they should agree. When they do, it is a good indication that the transactions have been entered correctly in the ledger accounts.
A trial balance is usually drawn up at the end of each month, its purpo is to test the arithmetical accuracy of the book-keeping. A trial balance is always taken out at a specific date and this date should clearly be written as part of the heading. A trial balance is not an account and should not be placed in the ledger.
Illustrative question:
Brian Williams run a small retail business. In your ledger, write up the double entry accounts needed to record the following transactions for the month of January 2010. At the end of the month balance the accounts and extract a trial balance as at 31 January 2010:
1 Jan Commenced business with $ 45000 in the business bank account
2 Bought office fixture costing $ 15000 on credit from Advent Furniture.
3 Bought goods on credit from Thompson Ltd for $ 5400
5 Paid rent $ 4000 by cheque
54207 Cash sales of $ 1800 and credit sales of $ 3900 to Veronica
8 Paid insurance $ 560 by cheque
高清大图壁纸
9 Bought stationery $ 200 paying by cheque
10 Bought goods costing $ 2500, paying by cheque
11 Sold goods on credit to Dennis for $ 3700
12 Paid Advent Furniture $ 10000 for part of the amount owing by cheque
儿童卡通图片14 Bought goods on credit from Thompson Ltd of $ 6000影评格式
15 Paid salaries of $ 1800 by cheque
16 Cash sales of $ 2450
17 Returned goods to Thompson Ltd of $ 500
19 Sold goods on credit to Lawrence of $ 4280
21 Paid electricity bill of $ 580 by cheque
22 Lawrence returned goods of $ 580
23 Paid $ 3400 by cheque to Thompson Ltd for amount owing
25 Received $ 2000 by cheque from Veronica
27 Cash sales of $ 3300
28 Paid salaries of $ 1800 by cheque
花布置跟领导30 Withdrew $ 2000 from bank for personal u
