Understanding Bookkeeping

Accounting Test Question No 2:

In Douglas’s book, the following May 2007 are recorded. You are required to extract a Trial Balance as at 31 May 2007.

May 1. Started business with $600 in the bank

2. Bought $500 goods on credit from Supplier A

3. Credit sales : X-$20

Y-$80

Z-$100

5. Cash Sales $250

7. Paid motor expenses $30 cash

10.Paid wages $150 cash

12.Credit sales: X-$80

U-$120

14.Bought $300 goods on credit from Supplier A

16.Cash sales $350

19.Paid Supplier A $400 cash

25.Customer X paid $100 cash

27.Customer Y paid $40 cash

31.Paid supplier A $200 cash

Answer : Trial Balance = $1,800