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Zorluk: KolayBalancing Ledger Accounts and Extracting Trial Balance

Ade, a sole trader, extracted the following account balances from his ledger at the end of the accounting period:

- Capital: ₦50,000₦50,000
- Sales: ₦80,000₦80,000
- Purchases: ₦45,000₦45,000
- Rent Expense: ₦5,000₦5,000
- Cash at Bank: ₦30,000₦30,000
- Machinery: ₦50,000₦50,000

What is the total of the Trial Balance extracted from these accounts?

Cevap: 130000 ₦

Cevap

The total of the trial balance extracted from the ledger accounts is ₦130,000₦130,000.
The total of the trial balance is obtained by adding up either all debit balances (₦45,000+₦5,000+₦30,000+₦50,000=₦130,000₦45,000 + ₦5,000 + ₦30,000 + ₦50,000 = ₦130,000) or all credit balances (₦50,000+₦80,000=₦130,000₦50,000 + ₦80,000 = ₦130,000). Since total debits equal total credits, the total is ₦130,000₦130,000.

Adım Adım Çözüm

1
Classify the ledger balances into Debit and Credit sides.
Debit balances: Purchases (₦45,000₦45,000), Rent Expense (₦5,000₦5,000), Cash at Bank (₦30,000₦30,000), Machinery (₦50,000₦50,000). Credit balances: Capital (₦50,000₦50,000), Sales (₦80,000₦80,000).
Assets and expenses have debit balances, while equity and revenue accounts have credit balances.
2
Sum either column to find the trial balance total.
Total Debit = ₦45,000+₦5,000+₦30,000+₦50,000=₦130,000₦45,000 + ₦5,000 + ₦30,000 + ₦50,000 = ₦130,000. (Total Credit = ₦50,000+₦80,000=₦130,000₦50,000 + ₦80,000 = ₦130,000).
Under double-entry bookkeeping, the total of all debit balances must equal the total of all credit balances.

Anahtar Kavram

Extraction and balancing of Trial Balance column totals
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Konular

Balancing Ledger Accounts and Extracting Trial Balance

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