Action Accounting
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Patricia Green's Organic Fruit and Vegetable Stall
Balancing Accounts and the Trial Balance: Sales
Scene 38
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Introduction
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Double Entry
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Balancing Accounts
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Trial Balance
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Income Statement
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Balance Sheet
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Completed Financial Statements
Balance the Sales Account: Find the Balancing Figure
This Sales Account has only two transactions so it is not hard to establish the balancing figure showing how much sales amounted to for the period.
Look at the account and calculate out how much each side totals. Then find the difference between the two sides. This is the balancing figure.
Type figures in the "post-it" note below
DR
Sales Account
CR
Date
Details
Amount
Date
Details
Amount
October 6
Bank Account
700
October 7
Bank Account
480
Debit side total equals
Credit side total equals
Difference equals
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Debit side total equals €0. Credit side total equals €1180. Difference equals €1180.
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