Hello,

I have completed a book keeping exercise and have only received 75%. I do not know where I am going wrong and would greatly appreciate it if someone could show me where I am going wrong. The whole exercise is 4 pages and I can send electronically.

Please help.

Many Thanks

Hello,

I have completed a book keeping exercise and have only received 75%. I do not know where I am going wrong and would greatly appreciate it if someone could show me where I am going wrong. The whole exercise is 4 pages and i can send electronically.

Please help.

Many Thanks

Please post your work and am sure you will get help on this forum

Exercise: The standard rate of VAT is 15%

Note: Balance Ledger 1 Jan were
Capital £18317
Motor Vehicles £15500
Equipment £5500
Stocks of repair materials £1250
Bank £3500
Debtors:
Ashford Hotel £460
Dunsley Lodge £230
Raw School £345

Creditors:
Lock Supplies £368

Bank Loan £7500
VAT £600 CR

Post to Ledger

1)Hugh Received a cheque for the amount of £460.00 from Ashford hotel (03/01/09)

2) Hugh Makes Three further payments.
05 Jan Whitby Autos, Tyres for the transit van. £207 (incl VAT)
07 Jan Scarborough Office, Supplies Stationary. £57.50(inc VAT)
15 Jan Lock Supplies Ltd, Repair Materials. £248.40 (inc VAT)

3) Hugh pays for diesel by cheque £86.25 (inc VAT) 05 Jan

4) Work done for private customers, cash received
8 Jan £1150. (Inc VAT £150.)
15 Jan 1380 (inc VAT 180)
22 Jan 1035 (Inc vat 135)
29 Jan 1265 (inc Vat 165)

5) Hugh made the following payments in cash
10 Jan Repair Materials £230.0 (inc VAT)
12 Jan Advert £115. (inc VAT)

6) Hugh banks the following cash
11 Jan £920.00
16 Jan 1260.00
23 Jan 1000.00
30 Jan 1260.

7) Hugh settled his account with Lock Supplies in full by Chq 22 Jan

8) Hugh received cheques from dunsley Lodge and Raw school in full settlement of their accounts 23 Jan

9) Hugh received a credit note from Whitby Autos 28 Jan for £28.75 (Inc VAT) - Post to relevant account (credit net returns to Motor vehicle running costs)

10) On 31 Jan Hugh paid wages ny cheque £2500 and also raised a cheque for £1600.00 for private use.

I posted the above to the following accounts.

Capital Account
DR CR
Date Details Amount Date Details Amount
b/f 18317



Bal b/d 18317


Motor Vehicle
DR CR
Date Details Amount Date Details Amount
b/f 15500
05-Jan Whitby 180


Bal b/d 15680

Equipment
DR CR
Date Details Amount Date Details Amount
b/f 5500


Bal b/d 5500

Stock Repair
DR CR
Date Details Amount Date Details Amount
b/f 1250



Bal b/d 1250

BANK Account
DR CR
Date Details Amount Date Details Amount
Bal b/f 3500 05-Jan Diesel 86.25
03-Jan Ashford - CHQ 460 22-Jan Lock Supplies 616.4
11-Jan Cash 920 31-Jan Wages 1600
16-Jan Cash 1260 31-Jan Drawers 2500
23-Jan Cash 1000 c/d 4172.35
30-Jan Cash 1260
23-Jan Dunsley lodge 230
23-Jan Raw lodge 345
TOTAL 8975 TOTAL 8975
Bal b/d 4172.35

Bank Loan
DR CR
Date Details Amount Date Details Amount
b/f 7500

Bal b/d 7500

VAT
DR CR
Date Details Amount Date Details Amount
05-Jan Whitby 27 b/f 600
07-Jan Scarb 7.5 03-Jan chq 60
15-Jan Lock 32.4 08-Jan takings 150
05-Jan Bank 11.25 15-Jan takings 180
10-Jan Repairs 30 22-Jan takings 135
12-Jan Advert 15 29-Jan takings 165
28-Jan Whitby 3.75
c/d 1163.1
Total 1290 Total 1290

Bal b/d 1163.1


CASH
DR CR
Date Details Amount Date Details Amount
08-Jan takings 1150 10-Jan Repiars 230
15-Jan takings 1380 12-Jan Advert 115
22-Jan takings 1035 11-Jan Bank 920
29-Jan takings 1265 16-Jan Bank 1260
23-Jan Bank 1000
30-Jan Bank 1260
c/d 45
Total 4830 Total 4830
Bal b/d 45

Sale work Done
DR CR
Date Details Amount Date Details Amount
03/01/2009 Bank 400
08-Jan Cash 1000
15-Jan Cash 1200
22-Jan Cash 900
29-Jan Cash 1100
Bal b/d 4600


Motor running costs
DR CR
Date Details Amount Date Details Amount

05-Jan Diesel 75
28-Jan Whitby CN 25

Bal b/d 100



Telephone, Postage, Stationary
DR CR
Date Details Amount Date Details Amount
07-Jan Scarborough 50
12-Jan Cash 100

Bal b/d 150

Repair Materials
DR CR
Date Details Amount Date Details Amount
15-Jan Lock 216
10-Jan Cash 200

Bal b/d 416

Wages
DR CR
Date Details Amount Date Details Amount
31-Jan Bank 2500


Bal b/d 2500

Drawings
DR CR
Date Details Amount Date Details Amount
31-Jan Bank 1600



Bal b/d 1600
SALES LEDGER
DR Ashford hotel CR
Date Details Amount Date Details Amount
b/f 460


Bal b/d 460

Dunsley Lodge
DR CR
Date Details Amount Date Details Amount
b/f 230 23-Jan Settled account 230


Bal b/d 0

Raw School
DR CR
Date Details Amount Date Details Amount
b/f 345 23-Jan Settled account 345



Bal b/d 0

PURCHASE LEDGER
DR Lock Supplies CR
Date Details Amount Date Details Amount
22-Jan Settled account 616.4 b/f 368
15-Jan Repair 248.4

Bal b/d 0

Whitby
DR CR
Date Details Amount Date Details Amount
05-Jan Tyres 207
28-Jan CN 28.75


Bal b/d 235.75

Scarborough
DR CR
Date Details Amount Date Details Amount
07-Jan Stationary 57.5


Bal b/d 57.5




I completed my trial balance and it balances. But as I said I only got 75%.

Why?

Trial balance:
DR CR
Capital 18317
Motor Vehicle 15680
Equiopment 5500
Stock repair 1250
Bank 4172.35
Cash 45
VAT 1163.1
Sales work done 4600
Bank Loan 7500
Motor running costs 100
Telephone 150
Repair materials 416
Wages 2500
Drawings 1600
Debtors
Ashford 460

Creditors
235.75
57.5

TOTAL 31873.35 31873.35

The DR and CR have joined. Errghh

Yes, the columns don't stay when it posts. The easiest thing is just putting (dr) and (cr) on everything. You can also use little dots to move stuff over into columns. It's too late now but you can also edit posts for I think 24 hours.

You can easily enough highlight the entire thing and paste it into a new post and fix that, so you wouldn't have to type it all over.

Capital Account
CR
b/d 18317

Motor Vehicle
DR b/f 15500
DR 05-Jan Whitby 180
DR b/d 15680

Equipment
DR b/f 5500
DR b/d 5500

Stock Repair
DR b/f 1250
DR b/d 1250

BANK Account
DR b/f 3500
CR 05-Jan Diesel 86.25
DR 03-Jan Ashford - CHQ 460
CR 22-Jan Lock Supplies 616.4
DR 11-Jan Cash 920
CR 31-Jan Wages 1600
DR 16-Jan Cash 1260
CR 31-Jan Drawers 2500
DR23-Jan Cash 1000
DR30-Jan Cash 1260
DR23-Jan Dunsley lodge 230
DR23-Jan Raw lodge 345
DR Bal b/d 4172.35

Bank Loan
CR b/d 7500



VAT
DR05-Jan Whitby 27
CR b/f 600
DR 07-Jan Scarb 7.5
DR 15-Jan Lock 32.4
CR 08-Jan takings 150
DR 05-Jan Bank 11.25
CR 15-Jan takings 180
DR 10-Jan Repairs 30
CR 22-Jan takings 135
DR 12-Jan Advert 15
CR 29-Jan takings 165
CR 28-Jan Whitby 3.75
CR Bal b/d 1163.1


CASH
CR Ashford Chq 460
DR 08-Jan takings 1150
CR 10-Jan Repiars 230
DR 15-Jan takings 1380
CR12-Jan Advert 115
DR 22-Jan takings 1035
CR 11-Jan Bank 920
DR 29-Jan takings 1265
CR 16-Jan Bank 1260
CR 23-Jan Bank 1000
CR 30-Jan Bank 1260
CR Bal b/d 415

Sale work Done
CR08-Jan Cash 1000
CR15-Jan Cash 1200
CR22-Jan Cash 900
CR 29-Jan Cash 1100
CR Bal b/d 4200


Motor running costs
DR 05-Jan Diesel 75
CR 28-Jan Whitby CN 25
DR Bal b/d 50



Telephone, Postage, Stationary,Advert
DR 07-Jan Scarborough 50
DR 12-Jan Cash 100
DR Bal b/d 150

Repair Materials
DR 15-Jan Lock 216
DR 10-Jan Cash 200
DR Bal b/d 416

Wages
DR 31-Jan Bank 2500
DR Bal b/d 2500

Drawings
DR 31-Jan Bank 1600
DR Bal b/d 1600

SALES LEDGER

DRChq 460
DR Bal b/d 460

Dunsley Lodge
DR b/f 230
CR 23-Jan Settled account 230
Bal b/d 0

Raw School
DR b/f 345
CR 23-Jan Settled account 345
Bal b/d 0

PURCHASE LEDGER
CR b/f 368
CR 15-Jan Repair 248.4
DR 22-Jan Settled account 616.4
Bal b/d 0

Whitby
DR28-Jan CN 28.75
CR 05- Jan Tyres 207
CR Bal b/d 178.25

Scarborough
CR 07-Jan Stationary 57.5
CR Bal b/d 57.5

TRIAL BALANCE

Trial balance:
CR Capital 18317
DR Motor Vehicle 15680
DR Equiopment 5500
DR Stock repair 1250
DR Bank 4172.35
CR Cash 415
CR VAT 1110.60
CR Sales work done 4200
CR Bank Loan 7500
DRMotor running costs 50
DR Telephone 150
DR Repair materials 416
DR Wages 2500
DR Drawings 1600
DR Debtors -Ashford 460

CR Creditors 178.25
CR Creditors 57.5

TOTAL
DR 31778.35
CR 31778.35

Here we go.

My trial balance looks correct to me.

Where am I going wrong. If it's not with the ledger than I can only guess I have answered one of six questions wrong (next part of exercise). I would appreciate it so much if you could scan over this and tell me where I have mis posted?

Many Thanks

Can anyone help?
Morgaine 300, where did you go?

Thanks

Where I went is that I have a real life. As of right now, I'm the one answering most of the questions, which I do voluntarily, and which are always backed up two pages.

Not to mention that I can't answer you. I don't know anything about all that VAT stuff - I don't know where you're at, but not here. I was merely telling you how you can get the dr/cr stuff in, not that I personally could answer the question. One of the people who knows that stuff would have to check all that, and some of them have not been around much. (They're volunteers as well.)

I also don't know what your question is. You balance. I can check math, but apparently something else is wrong, meaning I have to understand all the VAT stuff to check what you did.