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

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)

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

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 th July balance b/d th July C Bableton 450 6th July balance b/d 225 £ 3 rd July bank 225

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 th July J Henry th July balance b/d 582 6th July balance b/d 1407

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 th July balance b/d th July balance b/d 75

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 th July balance b/d th July balance b/d 450 £ 5 th July balance c/d 450

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