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    MENFRED's Avatar
    MENFRED Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Aug 2, 2007, 09:37 AM
    Accounting-double entry system
    Hi,
    How to prepare a trial balance from the information below:

    AG 1 Robinson start business with $ 4,500 in bank
    AG 3 Paid rent $ 500 and office sundries 120 by cheque
    AG 4 Bought stok on credit from Parker for $ 250
    AG 8 Sold stock on credit to Tom for $ 440
    AG 14 Received $ 50 cash for commission earned
    AG 16 Transferred $ 700 from bank to cash hill
    AG Bought stock for $ 80 cash
    AG 21 Tom returned $ 110 of the stock sold to him
    AG 27 Took $ 25 from cash hill for pesonal use
    AG 31 Received cheque from Tom $ 330

    Thank you for your help I stopped school 35 years ago.
    tamika thompson's Avatar
    tamika thompson Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Jan 20, 2009, 12:17 PM
    Bought a motor van on credit from speed and sons ltd for 6,980
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Jan 22, 2009, 03:00 PM

    First you need to do journal entries for each transaction:

    Then prepare T-account for all of your accounts to get your balances for your accounts.

    Then list your accounts with Debit balancess in one column and Credit balances in the 2nd column.

    Finally add your debits and credits. The totals for your Debits should Equal your Credits.
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