Trial Balance Solution

Page 122 Question 4

Trial Balance as at 31 March 2011
Title of Account Debit Credit
Capital 200000
Revenue 300000
15000
Ordinary goods purchased 0
35000
Cash 0
Rent 4000
Insurance 10000
Telephone 6000
Commission Received 20000
52000
0 520000

Page 123 Question 7

Trial Balance as at 30 September 2011
Title of Account Debit Credit
Capital 200000
18000
Ordinary goods purchased 0
Revenue 283000
12000
Wages and Salaries 0
11500
Cash 0
Office Rent 43000
Telephone 30000
Commission Received 50000
Insurance 45000
53300
0 533000

Page 123 Question 8

Trial Balance
Title of Account Debit Credit
15000
Cash 0
Revenue 200000
15000
Ordinary goods purchased 0
Postages and Stationery 3000
Heating 2000
Rent and Rates 13500
Commission Received 25000
Capital ??? 93500
31850 318500
 0

Page 123 Question 9

In the Books of Raffick
Dr Cash Account Cr
Amoun
Date Details F t Date Details F Amount
2011 2011
1-May Capital 100000 2-May Ordinary goods purchased 30000
6-May Revenue 60000 4-May Ordinary goods purchased 40000
7-May Revenue 70000 10-May Rent 300
12-May Commission Received 700 15-May Wages and Salaries 4000
31-May Balance c/d 156400
230700 230700
1-Jun Balance b/d 156400
Capital Account
31-May Balance c/d 100000 1-May Cash 100000
100000 100000
1-Jun Balance b/d 100000
Ordinary goods purchased Account
2-May Cash 30000
4-May Cash 40000 31-May Income Statement 70000
70000 70000
Revenue Account
6-May Cash 60000
31-May Income Statement 130000 7-May Cash 70000
130000 130000
Rent Account
10-May Cash 300 31-May Income Statement 300
300 300
Commission Received Account
31-May Income Statement 700 12-May Cash 700
700 700
Wages and Salaries Account
15-May Cash 4000 31-May Income Statement 4000
4000 4000

Trial Balance at 31 May 2011

Title of Account Debit Credit
15640
Cash 0
Capital 100000
Ordinary goods purchased 70000
Revenue 130000
Rent 300
Commission Received 700
Wages and Salaries 4000
23070
0 230700

Page 124 Question 10

(i) and (ii)

In the Books of Kabba

Dr Cash Account Cr
Date Details F Amount Date Details F Amount
2011 2011
1-Aug Capital 570000 2-Aug Ordinary goods purchased 120000
5-Aug Revenue 150000 3-Aug Ordinary goods purchased 150000
7-Aug Revenue 180000 12-Aug Insurance 3000
9-Aug Rent received 90000 17-Aug Telephone Expenses 2000
15-
Aug Commission Received 30000 21-Aug Water bill 300
27-Aug Electricity bill 450
29-Aug Wages and salaries 35000
30-Aug General expenses 500
31-Aug Balance c/d 708750
1020000 1020000
1-Sep Balance b/d 708750
Capital Account
31-
Aug Balance c/d 570000 1-Aug Cash 570000
570000 570000
1-Sep Balance b/d 570000
Ordinary goods purchased Account
2-Aug Cash 120000
3-Aug Cash 150000 31-Aug Income Statement 270000
270000 270000
Revenue Account
5-Aug Cash 150000
31-
Aug Income Statement 330000 7-Aug Cash 180000
330000 330000
Rent Received Account
31-
Aug Income Statement 90000 9-Aug Cash 90000
90000 90000
 Insurance Account
12-
Aug Cash 3000 31-Aug Income Statement 3000
3000 3000
Commission Received Account
31-
Aug Income Statement 30000 15-Aug Cash 30000
30000 30000
Telephone Expenses Account
17-
Aug Cash 2000 31-Aug Income Statement 2000
2000 2000
Water Bill Account
21-
Aug Cash 300 31-Aug Income Statement 300
300 300
Electricity Bill Account
27-
Aug Cash 450 31-Aug Income Statement 450
450 450
Wages and Salaries Account
29-
Aug Cash 35000 31-Aug Income Statement 35000
35000 35000
General Expenses Account
30-
Aug Cash 500 31-Aug Income Statement 500
500 500

(ii) Trial Balance as at 31 August 2011

Title of Account Debit Credit
Cash 708750
Capital 570000
Ordinary goods
purchased 270000
Revenue 330000
Rent Received 90000
Insurance 3000
Commission Received 30000
Telephone Expenses 2000
Water bill 300
Electricity bill 450
Wages and salaries 35000
General Expenses 500
1020000 1020000