Question

Date Account title Debit Credit Jul-01 Merchandise Inventory 7600 Accounts Payable- XYZ 7600 Jul-02 Freight charges 400 Accounts Payable- Pegasus 400 Jul-03 Accounts Receivable - Echo 1300 Accounts Receivable - Pitas 2000 Sales Revenue 3300 Jul-05 Merchandise Inventory 3200 Accounts payable- Horizon 3200 Jul-08 Accounts payable- Horizon 300 Merchandise Inventory 300 Jul-13 Supplies 910 Accounts payable-Bowe 910 Jul-15 Merchandise Inventory 6900 Accounts payable- XYZ 3600 Accounts payable-Goran 3300 Jul-16 Accounts Receivable- Fiber 3450 Accounts Receivable - Pitas 1570 Sales Revenue 5020 Jul-18 Advertising expenses 600 Accounts payable-Wei 600 Jul-21 Accounts Receivable- Echo 310 Accounts Receivable-Musky 2800 Sales Revenue 3110 Jul-22 Sales allowance 65 Accounts Receivable- Echo 65 Jul-24 Merchandise Inventory 3000 Accounts payable- Horizon 3000 Jul-26 Equipment 900 Accounts payable-Bowe 900 Jul-28 Freight charges 380 Accounts payble - Pegasus 380 Jul-30 Accounts Receivable- Fiber 5600 Sales Revenue 5600

1:post to both the general and subsidiary leader account
2: parper trial balance

additional information at the beginning of July,the ledger of the company showed cash 2500,purchase 1700, account receivable 2000,and account payable 2200

Answer 1

General Ledger Trial Balance A/C Name Dr Dr Cr Dr Cr Cash Date Particulars Cash Amount Date 2.500 Amount Date 2500 22100 18965 910 600 Particulars Particulars 1-Jul Opening Balance Purchase Accounts Receivable Supplies Advertisement Expenses sales Allowance Equipment Freight Charges Accounts Payable sales Revenue Accounts Payable Amount Date Particulars 1-Jul Opening Balance 31-Jul Accounts Payable-XYZ 31-Jul Accounts Payable-Pegasus 31-Jul Accounts Payable-Horizon 31-Jul Accounts Payable-Bowe 31-Jul Accounts Payable-Goran 31-Jul Accounts Payable-Wei Amount 2,200 11200 780 5900 65 900 780 1810 3300 600 25790 17030 Closing Balance 2,500.00 Closing Balance 25,790 Dr Cr Dr Particulars Amount Date Particulars Date Particulars 1-Jul Opening Balance 31-Jul Merchandise Inventory Purchase Amount Date 1,700 20,400 2,000 Cr Sales Revenue Amount Date Particulars Amount 3-Jul Accounts Receivable-Echo 1,300 3-Jul Accounts Receivable-Pitas 16-Jul Accounts Receivable-Fiber 3,450 16-Jul Accounts Receivable-Pitas 1,570 21-Jul Accounts Receivable-Echo 310 21-Jul Accounts Receivable-Musky 2,800 30-Jul Accounts Receivable-Fiber 5,600 Closing Balance 22,100.00 Closing Balance 17,030 Dr Cr Particulars Amount Date Particulars 1-Jul Opening Balance 31-Jul Accounts Receivable-Echo 31-Jul Accounts Receivable-Pitas 31-Jul Accounts Receivable-Fiber 31-Jul Accounts Receivable-Musky Accounts Receivable Amount Date 2,000 1545 35701 9050 28001 Closing Balance 18,965.00 Dr Cr Date Supplies Amount Date 910 Particulars Particulars 13-Jul Accounts Payable-Bowe Amount Closing Balance 910.00 Dr Cr Date Advertisement Expenses Amount Date 600 Particulars Particulars 18-Jul Accounts Payable-wei Amount Closing Balance 600.00 Dr Cr Sales Allowance Amount Date Particulars Amount Date Particulars 22-Jul Accounts Receivable-Echo 65 Closing Balance 65.00 Dr Cr Date Equipment Amount Date 900 Particulars Particulars 26-Jul Accounts Payable-Bowe Amount Closing Balance 900.00 Dr Cr Particulars Amount Date Particulars 2-Jul Accounts Payable-Pegasus 28-Jul Accounts Payable-Pegasus Freight Charges Amount Date 400 380 Closing Balance 780.00 Subsidiary Ledger account Dr Cr Dr Cr Merchandise Inventory Amount Date Particulars 7,600 08-Jul Accounts Payable-Horizon 3,200 31-Jul Purchases 3,600 (Transfer) 3,300 3,000 Amount 300 20,400 Date Particulars 31-Jul Accounts Payable (Transfer) Accounts Payable-XYZ Amount Date Particulars 11,200 1-Jul Merchandise Inventory 15-Jul Merchandise Inventory Date Particulars 1-Jul Accounts Payable-XYZ 05-Jul Accounts Payable-Horizon 15-Jul Accounts Payable-XYZ 15-Jul Accounts Payable-Goran 24-Jul Accounts Payable-Horizon Amount 7,600 3,600 Closing Balance Closing Balance Dr Cr Dr Cr Date Particulars 3-Jul Sales Revenue 21-Jul Sales Revenue Accounts Receivable-Echo Amount Date Particulars 1,300 22-Jul Sales Allowance 310 31-Jul Accounts receivable (Transfer) Amount 65 1,545 Date Particulars 31-Jul Accounts Payable (Transfer) Accounts Payable-Pegasus Amount Date Particulars 780 2-Jul Freight Charges 28-Jul Freight Charges Amount 400 380 Closing Balance Closing Balance Dr Cr Dr Cr Date Particulars 3-Jul Sales Revenue 16-Jul Sales Revenue Accounts Receivable-Pitas Amount Date Particulars 2.000 31-Jul Accounts receivable 1,570 (Transfer) Amount 3,570 Date Particulars 8-Jul Merchandise Inventory 31-Jul Accounts Payable (Transfer) Accounts Payable-Horizon Amount Date Particulars 300 5-Jul Merchandise Inventory 5,900 24-Jul Merchandise Inventory Amount 3,200 3,000 Closing Balance Closing Balance Dr Cr Dr Cr Date Particulars 16-Jul Sales Revenue 30-Jul Sales Revenue Accounts Receivable-Fiber Amount Date Particulars 3,450 31-Jul Accounts receivable 5.600 (Transfer) Amount 9,050 Date Particulars 31-Jul Accounts Payable (Transfer) Accounts Payable-Bowe Amount Date Particulars 1,810 13-Jul Supplies 26-Jul Equipment Amount 910 900 Closing Balance Closing Balance Dr Cr Dr Cr Date Date Particulars 21-Jul Sales Revenue Accounts Receivable-Musky Amount Date Particulars 2,800 31-Jul Accounts receivable (Transfer) Amount 2,800 Particulars 31-Jul Accounts Payable (Transfer) Accounts Payable-Goran Amount Date Particulars 3,300 15-Jul Merchandise Inventory Amount 3,300 Closing Balance Closing Balance Dr Cr Date Particulars 31-Jul Accounts Payable (Transfer) Accounts Payable-Wei Amount Date Particulars 600 18-Jul Advertisement Expenses Amount 600 Closing Balance