The Pineapple Pub

Balancing Accounts and the Trial Balance

Scene 84 / of 100

The Trial Balance

The Trial Balance is balanced. It shows that the double entry is arithmetically correct and we have a summary of the transactions that have occurred. We should realise that the trial balance will not find all mistakes that can occur.

The Trial Balance as at December 31
Account	DEBIT	CREDIT
Bank Account	40600
Capital Account		40000
Creditor - Flash Sales Limited Account		10000
Creditor - Kensington Supplies Limted Account		6000
Debtor - Hampstead Heath Party Hire Account
Discount Allowed Account	200
Drawings Account	4200
Energy Expenses Account	3500
Furniture Account	18000
Leasing Expenses Account	3500
Purchases Account	6000
Rent Payable Account	20000
Rent Receivable Account		4000
Sales Account		47000
Wages Account	11000
	107000	107000

DR	Bank Account					CR
Date	Details	Amount		Date	Details	Amount
December 1	Capital Account	40000		December 7	Rent Payable Account	20000
December 5	Sales Account	10000		December 12	Leasing Expenses Account	3500
December 8	Rent Receivable Account	4000		December 15	Wages Account	11000
December 21	Debtor - Hampstead Heath Party Hire Account	1800		December 17	Creditor - Flash Sales Limited Account	8000
December 24	Sales Account	15000		December 23	Drawings Account	4200
December 31	Sales Account	20000		December 29	Energy Expenses Account	3500
				December 31	Balance c/d	40600
		90800				90800
January 1	Balance b/d	40600

DR	Capital Account					CR
Date	Details	Amount		Date	Details	Amount
December 31	Balance c/d	40000		December 1	Bank Account	40000
		40000				40000
				January 1	Balance b/d	40000

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
				January 1	Balance b/d	10000

DR	Creditor - Kensington Supplies Limted Account					CR
Date	Details	Amount		Date	Details	Amount
December 31	Balance c/d	6000		December 9	Purchases Account	6000
		6000				6000
				January 1	Balance b/d	6000

DR	Debtor - Hampstead Heath Party Hire Account					CR
Date	Details	Amount		Date	Details	Amount
December 18	Sales Account	2000		December 21	Bank Account	1800
				December 21	Discount Allowed Account	200
		2000				2000

DR	Discount Allowed Account					CR
Date	Details	Amount		Date	Details	Amount
December 21	Debtor - Hampstead Heath Party Hire Account	200		December 31	Balance c/d	200
		200				200
January 1	Balance b/d	200

DR	Drawings Account					CR
Date	Details	Amount		Date	Details	Amount
December 23	Bank Account	4200		December 31	Balance c/d	4200
		4200				4200
January 1	Balance b/d	4200

DR	Energy Expenses Account					CR
Date	Details	Amount		Date	Details	Amount
December 29	Bank Account	3500		December 31	Balance c/d	3500
		3500				3500
January 1	Balance b/d	3500

DR	Furniture Account					CR
Date	Details	Amount		Date	Details	Amount
December 6	Creditor - Flash Sales Limited Account	18000		December 31	Balance c/d	18000
		18000				18000
January 1	Balance b/d	18000

DR	Leasing Expenses Account					CR
Date	Details	Amount		Date	Details	Amount
December 12	Bank Account	3500		December 31	Balance c/d	3500
		3500				3500
January 1	Balance b/d	3500

DR	Purchases Account					CR
Date	Details	Amount		Date	Details	Amount
December 9	Creditor - Kensington Supplies Limted Account	6000		December 31	Balance c/d	6000
		6000				6000
January 1	Balance b/d	6000

DR	Rent Payable Account					CR
Date	Details	Amount		Date	Details	Amount
December 7	Bank Account	20000		December 31	Balance c/d	20000
		20000				20000
January 1	Balance b/d	20000

DR	Rent Receivable Account					CR
Date	Details	Amount		Date	Details	Amount
December 31	Balance c/d	4000		December 8	Bank Account	4000
		4000				4000
				January 1	Balance b/d	4000

DR	Sales Account					CR
Date	Details	Amount		Date	Details	Amount
December 31	Balance c/d	47000		December 5	Bank Account	10000
				December 18	Debtor - Hampstead Heath Party Hire Account	2000
				December 24	Bank Account	15000
				December 31	Bank Account	20000
		47000				47000
				January 1	Balance b/d	47000

DR	Wages Account					CR
Date	Details	Amount		Date	Details	Amount
December 15	Bank Account	11000		December 31	Balance c/d	11000
		11000				11000
January 1	Balance b/d	11000

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