1. Chapter 3 Double entry, balancing off and extracting the trial balance

2. Slide 2 Balancing off (a)Identify which side adds up to the largest amount (b)Make the other side add up to the same figure by inserting the balancing figure (c)Describe the balance as balance carried down (Bal c/d) (d)Complete the double entry by inserting the same figure on the opposite side ( under the sum) (e)Describe this figure as balance brought down (Bal b/d)

3. Slide 3 Lecture example 3 Debit Credit £ 2 nd July purchases 250 Debit Credit Bank Capital 20X2 £ 1 st July capital 20000 £ 1 st July bank 20000 3rd July rent 225 4 th July rates 135 5 th July Balance c/d 19390 20000 6 th July balance b/d 19390 20000 6 th July Balance b/d 20000 £ 5 th July balance c/d 20000

4. Slide 4 Lecture example 3 Debit Credit £ 5th July Balance c/d 700 Debit Credit Purchases Rent 20X2 £ 2nd July bank 250 £ 5th July Balance c/d 225 700 6 th July balance b/d 700 225 5 th July C Bableton 450 6th July balance b/d 225 £ 3 rd July bank 225

5. Slide 5 Lecture example 3 £ 4 th July sales 657 Debit Credit £ 4th July cash 657 Debit Credit Sales Cash 20X2 £ 5th July balance c/d 1407 £ 5th July wages 75 5 th July balance c/d 582 5 th July J Henry 750 1407 657 6th July balance b/d 582 6th July balance b/d 1407

6. Slide 6 Lecture example 3 £ 5th July cash 75 Debit Credit £ 5th July Balance c/d 135 Debit Credit Rates Wages 20X2 £ 4th July bank 135 £ 5th July Balance c/d 75 135 6 th July balance b/d 135 75 6th July balance b/d 75

7. Slide 7 Lecture example 3 Debit Credit £ 5th July Balance c/d 750 Debit Credit Debtors Credotors 20X2 £ 5th July Sales 750 £ 5th July Purchases 450 750 6 th July balance b/d 750 450 6th July balance b/d 450 £ 5 th July balance c/d 450

8. Slide 8 Lecture example 4 TRIAL BALANCE ACCOUNT NAMEDEBIT £ CREDIT £ Bank Capital Purchases Rent Sales Cash Rates Wages Debtors Credors Totals