In: Accounting
Complete T accounts for the transactions. Total the T accounts and add them to the trial balance. Use the trial balance to make sure the accounts are balanced.
On 1/3/XX there is an interest payment received for $1.35.
On 5/3/XX fuel costing $18.00 is purchased.
On 6/3/XX there is a cash sale for $2,990.00.
On 7/3/XX stationery (toner) costing $247.00 is purchased.
On 11/3/XX there is a cash sale for $2,579.00.
On 12/3/XX fuel costing $36.50 is purchased.
On 13/3/XX there is a cash sale for $55.00.
On 19/3/XX fuel costing $36.75 is purchased.
On 20/3/XX a rent payment for $480.00 is made.
On 25/3/XX there is a cash sale for $3,528.00.
On 25/3/XX there is another cash sale, this time for $16.00.
On 26/3/XX fuel costing $28.75 is purchased.
CASH
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
STATIONERY
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
MOTOR VEHICLE EXPENSES
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
RENT
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
SALES
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
INTEREST RECEIVED
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
TRIAL BALANCE
ACCOUNT | DR | CR |
CASH | ||
STATIONERY | ||
MOTOR VEHICLE EXPENSES | ||
RENT | ||
SALES | ||
INTEREST RECEIVED | ||
TOTAL |
Solution.
Cash | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
3-Mar | Interest | 1.35 | 5-Mar | Fuel | 18.00 |
6-Mar | sales | 2,990.00 | 7-Mar | Stationery | 247.00 |
13-Mar | Sales | 55.00 | 12-Mar | Fuel | 36.50 |
14-Mar | Sales | 3,544.00 | 19-Mar | Fuel | 36.75 |
20-Mar | Rent | 480.00 | |||
26-Mar | Fuel | 28.75 | |||
Balance C/d | 5,743.35 | ||||
6,590.35 | 6,590.35 |
STATIONERY | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
7-Mar | Cash | 247.00 | Balance C/d | 247.00 |
MOTOR VEHICLE EXPENSES | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
Cash | 120 | Balance C/d | 120 |
RENT | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
20-Mar | Cash | 480.00 | Balance C/d | 480.00 |
SALES | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
6-Mar | sales | 2,990.00 | |||
13-Mar | Sales | 55.00 | |||
Balance b/d | 6,589.00 | 14-Mar | Sales | 3,544.00 |
INTEREST RECEIVED | |||||
DEBIT | CREDIT | ||||
DATE | REFERENCE | AMOUNT | DATE | REFERENCE | AMOUNT |
Balance b/d | 1.35 | 1-Mar | Cash | 1.35 |
TRIAL BALANCE | ||
ACCOUNT | DR | CR |
CASH | 5743.35 | |
STATIONERY | 247.00 | |
MOTOR VEHICLE EXPENSES | 120.00 | |
RENT | 480.00 | |
SALES | 6589.00 | |
INTEREST RECEIVED | 1.35 | |
TOTAL | 6590.35 | 6590.35 |