Professional Documents
Culture Documents
Trial Balance
Account name debit credit
Liabilities Revenues
TB
A + E
L + R
Trial Balance as on
DR
Debtors Sales 1900 1900
CR
1900
1900
The Bal c/d on the account should be posted to the opposing column on the Trial Balance [eg if the Cash bal c/d fell on the credit side then it should be recorded in the debit column of the Trial Balance]
Assets, Expenses Liabilities, Income
Creditors figure (the summary total of the amounts owing to the suppliers recorded in this ledger) Debtors figure (the summary total of the amounts owed by the customers recorded in this ledger) Posting transfer data from the journals [Day Books] to the ledgers Balance off the act of finding the figure that makes both side equal Debit the act of recording data on the left hand side of the account Credit the act of recording data on the right hand side of the account
$ x x A
Returns In
net sales
Stock [opening]
add
x x x v
x x B x C D
D x x x E
less
x x x x F G
NET PROFITS
OR
Net Capital = opening capital plus net profits less drawings
FIXED ASSETS:
fixed asset A [less depreciation] CURRENT ASSETS: c <d> J
less add
CURRENT LIABILITIES:
Working capital
<k> L
m
less Long term liabilities [if any]
total net assets
<x>
x x
n
less Drawings total capial
<x>