Action Accounting
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The Pineapple Pub
Balancing Accounts and the Trial Balance: Creditor - Flash Sales Limited
Scene 73
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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 Creditor - Flash Sales Limited Account: Bring Down the Opening Balance
The closing balance needs to be brought down to the opposite side as the opening balance for the next period.
Enter the opening balance.
If there is no closing balance just click check your answer without entering anything.
DR
Creditor - Flash Sales Limited Account
CR
Date
Details
Amount
Date
Details
Amount
December 17
Bank Account
8000
December 6
Furniture Account
18000
December 31
Balance c/d
10000
18000
18000
December 31
January 1
Balance c/d
Balance b/d
December 31
January 1
Balance c/d
Balance b/d
close
That's correct.
Jason owes €10,000 to Flash Sales Limited. A credit balance on a creditor account represents a liability.
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Are you sure? Try again.
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The Balance b/d is €0 date January 1.
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