Neil Patel
40068068
Unit 8
P4: Extract a trial balance from a set of accounting records.
£ Source of information DR/CR
Bank overdraft 2,750 Liability CR
Purchase 14,890 Goods for Resale DR
Sale Revenue 35,680 Money received from selling goods CR
Purchase Return 440 Return goods to supplier CR
Purchase ledger control 2,360 Suppliers/ Creditors CR
Office equipment 8,000 Fixed assets DR
Vehicle 14,000 Fixed assets DR
Opening inventory 2,810 Opening stock of the year DR
Sales return 550 Opposite of revenue(refund) DR
Sales ledger control 3,840 Opposite of PLC (Customers) DR
Administration expenses 12,060 Expenses (Overhead) DR
Value Added Tax owing 1,420 VAT (payable to HMRC) CR
Carriage Out 740 Expense (Overhead) DR
Discount received 210 Income to business CR
Capital ? Money invested by owners CR
40068068
Unit 8
P4: Extract a trial balance from a set of accounting records.
£ Source of information DR/CR
Bank overdraft 2,750 Liability CR
Purchase 14,890 Goods for Resale DR
Sale Revenue 35,680 Money received from selling goods CR
Purchase Return 440 Return goods to supplier CR
Purchase ledger control 2,360 Suppliers/ Creditors CR
Office equipment 8,000 Fixed assets DR
Vehicle 14,000 Fixed assets DR
Opening inventory 2,810 Opening stock of the year DR
Sales return 550 Opposite of revenue(refund) DR
Sales ledger control 3,840 Opposite of PLC (Customers) DR
Administration expenses 12,060 Expenses (Overhead) DR
Value Added Tax owing 1,420 VAT (payable to HMRC) CR
Carriage Out 740 Expense (Overhead) DR
Discount received 210 Income to business CR
Capital ? Money invested by owners CR
