| |
Solution 4.2
|
DR |
Capital
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
30 |
Bal
c/d |
25,000 |
1 |
Bank
a/c |
25,000 |
|
|
|
|
|
Bal
b/d |
25,000 |
|
DR |
Drawings Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
20 |
Bank
a/c |
900 |
|
|
|
|
27 |
Purchases
a/c |
200 |
30 |
Bal
c/d |
1,100 |
|
|
|
1,100 |
|
|
1,100 |
|
|
Bal
b/d |
1,100 |
|
|
|
|
DR |
Bank Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
1 |
Capital
a/c |
25,000 |
2 |
Equipment
a/c |
7,000 |
|
10 |
Sales
a/c |
5,000 |
6 |
Purchases
a/c |
3,000 |
|
25 |
Rent
received a/c |
1,000 |
15 |
Rent
a/c |
1,800 |
|
|
|
|
16 |
Stationery
a/c |
500 |
|
|
|
|
16 |
Advertising
a/c |
650 |
|
|
|
|
20 |
Drawings
a/c |
900 |
|
|
|
|
22 |
Cianod
a/c |
1,200 |
|
|
|
|
23 |
Wages
a/c |
1,800 |
|
|
|
|
26 |
Travel
expense a/c |
75 |
|
|
|
|
30 |
Bargain
Pieces a/c |
5,000 |
|
|
|
|
30 |
Bal
c/d |
9,075 |
|
|
|
31,000 |
|
|
31,000 |
|
|
Bal
b/d |
9,075 |
|
|
|
|
DR |
Equipment Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
2 |
Bank
a/c |
7,000 |
30 |
Bal
c/d |
7,000 |
|
|
Bal
b/d |
7,000 |
|
|
|
|
DR |
Furniture Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
4 |
Bargain
Pieces a/d |
5,000 |
30 |
Bal
c/d |
5,000 |
|
|
Bal
b/d |
5,000 |
|
|
|
|
DR |
Purchases Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
5 |
Cianod
a/c |
2,000 |
27 |
Drawings
a/c |
200 |
|
6 |
Bank
a/c |
3,000 |
30 |
Bal
c/d |
4,800 |
|
|
|
5,000 |
|
|
5,000 |
|
|
Bal
b/d |
4,800 |
|
|
|
|
DR |
Sales Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
|
|
|
10 |
Bank
a/c |
5,000 |
|
30 |
Bal
c/d |
5,950 |
28 |
G.
Dunne a/c |
950 |
|
|
|
5,950 |
|
|
5,950 |
|
|
|
|
|
Bal
b/d |
5,950 |
|
DR |
Purchases
Returns Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
30 |
Bal
c/d |
800 |
18 |
Cianod
a/c |
800 |
|
|
|
|
|
Bal
b/d |
800 |
|
DR |
Rent Payable
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
15 |
Bank
a/c |
1,800 |
30 |
Bal
c/d |
1,800 |
|
|
Bal
b/d |
1,800 |
|
|
|
|
DR |
Stationery
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
16 |
Bank
a/c |
500 |
30 |
Bal
c/d |
500 |
|
|
Bal
b/d |
500 |
|
|
|
|
DR |
Advertising
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
16 |
Bank
a/c |
650 |
30 |
Bal
c/d |
650 |
|
|
Bal
b/d |
650 |
|
|
|
|
DR |
Wages Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
23 |
Bank
a/c |
1,800 |
30 |
Bal
c/d |
1,800 |
|
|
Bal
b/d |
1,800 |
|
|
|
|
DR |
Travel Expenses
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
26 |
Bank
a/c |
75 |
30 |
Bal
c/d |
75 |
|
|
Bal
b/d |
75 |
|
|
|
|
DR |
Rent Receivable
Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
30 |
Bal
c/d |
1,000 |
25 |
Bank |
1,000 |
|
|
|
|
|
Bal
b/d |
1,000 |
|
DR |
Creditor –
Bargain Pieces Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
30
|
Bank
a/c |
5,000 |
4 |
Furniture
a/c |
5,000 |
|
|
|
|
|
|
|
|
DR |
Creditor
– Cianod Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
18 |
Purchases
returns a/c |
800 |
5 |
Purchases
a/c |
2,000 |
|
22 |
Bank
a/c |
1,200 |
|
|
|
|
|
|
2,000 |
|
|
2,000 |
|
|
|
|
|
|
|
|
DR |
Debtor – G
Dunne Account |
CR |
|
May |
|
€ |
May |
|
€ |
|
28 |
Sales
a/c |
950 |
30 |
Bal
c/d |
950 |
|
|
Bal
b/d |
950 |
|
|
|
Trial balance as at 30th May - Jack O'Donoghue
|
Account |
DEBIT |
|
CREDIT |
|
Capital |
|
|
25,000 |
|
Drawings |
1,100 |
|
|
|
Bank |
9,075 |
|
|
|
Equipment |
7,000 |
|
|
|
Furniture |
5,000 |
|
|
|
Purchases |
4,800 |
|
|
|
Sales |
|
|
5,950 |
|
Purchases
returns |
|
|
800 |
|
Rent
payable |
1,800 |
|
|
|
Stationery |
500 |
|
|
|
Advertising |
650 |
|
|
|
Wages |
1,800 |
|
|
|
Travel |
75 |
|
|
|
Rent
receivable |
|
|
1,000 |
|
Debtor
- G. Dunne |
950 |
|
|
|
|
32,750 |
|
32,750 |
Remember debtors will be presented in the statement of financial position
as accounts receivable and creditors will be presented as accounts
payable
|