Item Cash Accounts Receivable Land Accounts Payable Notes Payable Capital Share Revenues Advertising Expenses Utilities Expenses Debits Credits 26,300 3,200 15,000 5500 10,000 25,000 12,000 2000 1000 47500 47500 In 20x1, following transactions incurred. 1) Credit sales of 13,000. 2) Cash sales of 5000. 3) Paid up the Accounts Payable of 500 Please complete the Trial Balan December 20X1 by inputting appropriate figures at (1), (2),13), (4).651. (3 marks each)

Item Cash Accounts Receivable Land Accounts Payable Notes Payable Capital Share Revenues Advertising Expenses Utilities Expenses Debits Credits 26,300 3,200 15,000 5500 10,000 25,000 12,000 2000 1000 47500 47500 In 20x1, following transactions incurred. 1) Credit sales of 13,000. 2) Cash sales of 5000. 3) Paid up the Accounts Payable of 500 Please complete the Trial Balan December 20X1 by inputting appropriate figures at (1), (2),13), (4).651. (3 marks each)

Name: Help to clarify the trial balance for 1,2,3,4,5 For num 2 knowing that
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Description: Help to clarify the trial balance for 1,2,3,4,5 For num 2 knowing that will be 0 as paid up the account payable of $500. But I'm still confuse with rest.. DebitsItemCashAccounts ReceivableLandAccounts PayableNotes PayableCapital ShareRevenuesCredits2

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

Help to clarify the trial balance for 1,2,3,4,5 For num 2 knowing that will be 0 as paid up the account payable of $500. But I'm still confuse with rest..

Debits
Item
Cash
Accounts Receivable
Land
Accounts Payable
Notes Payable
Capital Share
Revenues
Credits
26,300
3,200
15,000
$500
10,000
25,000
12,000
2000
Advertising Expenses
Utilities Expenses
1000
47500
47500
In 20x1, following transactions incurred.
1) Credit sales of 13,000.
2) Cash sales of 5000.
3) Paid up the Accounts Payable of 500
appropriate figures at
(1), (2),(3), (4),(5). (i marks eachi
Beta Company
Trial Balance
31 December 20X1
Debits
(1)
Item
Cash
Credits
Accounts Receivable
Land
Accounts Payable
Notes Payable
Capital Share
Revenues
3,200
15,000
(2)
10,000
25,000
Advertising Expenses
Utilities Expenses
(3)
2000
1000
(5)
(4)

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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