Examkin

Soru

Zorluk: OrtaBalancing Ledger Accounts and Extracting Trial Balance

Zenith Freight Services extracted the following ledger balances at the end of its financial year:

- Capital: ₦150,000
- Premises: ₦120,000
- Cash at Bank: ₦35,000
- Motor Vehicles: ₦60,000
- Creditors: ₦25,000
- Sales: ₦180,000
- Purchases: ₦110,000
- Salaries Expense: ₦30,000

Calculate the total debit balance column of the trial balance in Naira (₦).

Cevap: 355000 ₦

Cevap

The total debit column of the trial balance is ₦355,000.
The trial balance debit total is obtained by summing all debit balance accounts: Premises (₦120,000), Cash at Bank (₦35,000), Motor Vehicles (₦60,000), Purchases (₦110,000), and Salaries Expense (₦30,000), giving a total of ₦355,000. This equals the credit column total (Capital ₦150,000 + Creditors ₦25,000 + Sales ₦180,000 = ₦355,000).

Adım Adım Çözüm

1
Classify ledger balances into debit and credit entries based on standard accounting rules.
Debit items: Premises (Asset), Cash at Bank (Asset), Motor Vehicles (Asset), Purchases (Cost), Salaries Expense (Expense). Credit items: Capital (Equity), Creditors (Liability), Sales (Revenue).
Assets and expenses carry normal debit balances, while liabilities, equity, and revenue carry normal credit balances.
2
Sum all debit entries to find the total of the trial balance debit column.
₦120,000 + ₦35,000 + ₦60,000 + ₦110,000 + ₦30,000 = ₦355,000.
Extracting the trial balance requires totaling the debit side to verify double-entry arithmetic equality with the credit side.

Anahtar Kavram

Classification of Ledger Balances into Trial Balance Debit and Credit Columns
Bu soruyu puanla

Konular

Balancing Ledger Accounts and Extracting Trial Balance

Bu konudan daha fazla soru