Question

make a trail balance out of the transactions provided

On August 2, Paid $2200 cash for August salon rent. On August 4, Incurred $400 of advertising costs due in 20 days On August 5, Purchased salon equipment for $120 On August 7, Paid for supplies (shampoos, creams, and gels) $350 On August 8, received $300 for selling gels On August 12, paid $200 water bill On August 12, paid $150 for electricity bill On August 14, incurred $1100 for the business’s bank loan due in 14 days On August 16, purchased a new chair set up for $450 On August 17, paid the amount due for the influencer $400 for advertising On August 19, paid $90 for my internet bill On August 21, received for $200 selling of shampoos On August 23, paid $110 for insurance On August 24, cleaner $110 On August 27, paid $1100 for the business’s bank loan On August 28, gas bills $35 On August 30, extra salary cost to a new trainee $400 On August 30, purchased a new tv screen $600 On August 30, paid $6000 in salaries for the month of August. On August 30, received $14000 from haircuts services during the month of August. And $500 of selling gels, creams, and shampoos

Answer 1

Trial Balance
August, 31
Particulars	Debit	Credit
Rent Expenses	$2,200
Advertising Expenses	$400
Equipment	$120
Purchases	$350
Sales		$15,000
Water Charges	$200
Electricity Charges	$150
Furniture	$450
Drawings - Internet Charges	$90
Insurance Expenses	$110
Cleaning Charges	$110
Gas Expenses	$35
Salary	$6,400
TV Screen	$600
Cash	$3,785
	$15,000	$15,000

Working Notes

  

Extra salary cost to a new trainee $400 is considered as paid and added with salary.

Payment of $90 for internet bill - This transaction considered as personal and shown as drawings.