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You are required to balance the following accounts:
You should enter the balances carried down in the correct place with the correct date.
You should enter the totals in the correct places.
You should enter the balances brought down in the correct place.
You are, however, free to enter numbers and text in any green cell.
1)
Bank
June
£
June
£
1
Capital
50000
2
Purchases
12500
3
Sales
1200
5
Van
5400
5
Sales
3400
6
Wages
700
9
Loan
25000
7
Electricity
200
12
Sales
3600
14
Purchases
6570
July
£
July
£
What kind of balance does this account produce?
2)
Purchases
June
£
June
£
1
Bank
3400
3
Bank
1250
5
Cash
760
9
Cash
340
12
Cash
570
July
£
July
£
What kind of balance does this account produce?
3)
Sales
June
£
June
£
1
Cash
430
3
Jones
34
5
Smith
128
9
Bank
59
12
Cash
25
25
Cash
75
July
£
July
£
What kind of balance does this account produce?
How many customers bought on credit?
4)
Stationery
June
£
June
£
1
Bank
25
5
Bank
32
7
Cash
45
8
Cash
23
15
Cash
120
July
£
July
£
What kind of balance does this account produce?
What kind of account is this?
5)
Commission Received
June
£
June
£
1
Cash
25
3
Jones
27
5
Smith
36
9
Bank
43
12
Cash
120
25
Cash
230
July
£
July
£
What kind of balance does this account produce?
What kind of account is this?
6)
Smith
June
£
June
£
1
Sales
35
2
Returns In
20
3
Sales
76
15
Discount Allowed
15
5
Sales
123
15
Bank
210
9
Sales
45
12
Sales
230
July
£
July
£
What kind of balance does this account produce?
What kind of account is this?
How much does this customer still owe?
7)
Harper
June
£
June
£
6
Bank
70
1
Purchases
230
12
Bank
130
4
Purchases
780
15
Cash
150
12
Purchases
1200
24
Returns Out
90
20
Purchases
450
27
Returns Out
120
23
Purchases
360
July
£
July
£
What kind of balance does this account produce?
What kind of account is this?
How much do we still owe this supplier?
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