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BOOKKEEPING NC III

PREPARE
TRIAL BALANCE
core competencies:
journalize
transactions
post transactions
prepare trial
balance
prepare financial
reports
review internal
control
system

WHAT IS TRIAL BALANCE?


A trial balance is a list of
accounts from the ledger
showing their debit or credit
balances
in
separate
columns.
The
trial
balance
is
a
summary of the ledgers

TABLE ON TRIAL BALANCE


CALCULATION.

Name of Business or Owner


Trial Balance
Date, 2016
Account
Number
001
002
003
.
004
005
006

Account Debit
Credit
Title
Account 1
xxxx.xx
Account 2
xxxx.xx
Account 3
xxxx.xx

Account 4
xxxx.xx
Account 5
xxxx.xx
Account 6
xxxx.xx
________
________
Totals
xxxx.xx
xxxx.xx

LIST ACCOUNT TITLES.


List the Assets, Liabilities,
Equity, Income and Expenses
account titles in accordance
with Chart of Accounts.
Chart of Accounts is found at very beginning of
Journalizing Transactions. Suppose that we are
already done with the two core competencies.

BIG Laundry Shop


June 30, 2016
Acct.#
001
002
003
004
005
006
007
008
009
010
011

Acct. Title
Debit
Cash on Hand
Accounts Receivables
Laundry Equipment
Furniture and Fixtures
Accounts Payable
Notes Payable
F. Big, Capital
F. Big, Drawing
Laundry Income
Taxes and Licenses
Water and Electric

Credit
CHART OF ACCOUNTS
001 - Cash on Hand
002 - Accounts
Receivables
003 - Laundry Equipment
004 - Furniture and
Fixtures
005 - Accounts Payable
006 - Notes Payable
007 F. Big, Capital
008 - F. Big, Drawing
009 - Laundry Income
010 - Taxes and Licenses
011 - Water and Electric

TRANSFER AMOUNT BALANCES


FROM THE LEDGER.

Transferring amount balances


of Assets, Liabilities, Equity,
Income and Expenses account
titles in accordance with
Chart of Accounts.
Refer from the Ledger Book.

GENERAL LEDGER
Acct. Cash on Hand
DATE

EXPLANATION

Account No.
P.R.

June- Pay permits and license


J-2
02
08 Income received from customer J-2

DEBIT

101

CREDIT

DR
CR

BALANCE

1 0 0 0 - CR

1 0 00 -

5500 -

DR

4 5 00 -

15

Cash from A/R Mrs. J. Valdez

J-3

1 0000 -

DR

1 4 5 00 -

17

Income received from


J-3
customers
CashBIG
received
from payment
Laundry
ShopJ-3
N/P
Income received from customer/ J-3
Paid Water
and Electric
bill
June
30, 2016

7000 -

DR

2 1 5 00 -

3000 -

DR

2 4 5 00 -

7000 -

1 5 0 0 - DR

3 0 0 00 -

24
30

Acct.#
Acct. Title
Debit
001
Cash on Hand
30,000 002
Accounts Receivables
5,000 003
Laundry Equipment
48,000 004
Furniture and Fixtures
2,500 005
Accounts Payable
6,000 006
Notes Payable
3,000 007
F. Big, Capital
73,000 008
F. Big, Drawing
2,000 009
Laundry Income

Credit

SUMMARIZE THE TRIAL BALANCE

Summarize the Debits and


Credits and ensure they are
totaled with 100% accuracy.
Total the amounts of debit and credit accounts and
ensure that they are in balance. If not, an error/s have
been made from the journalizing and posting of
transactions.

Zaccessors Laundry Shop


June 30, 2013
Cash on Hand
30,000 Accounts Receivables
5,000 Laundry Equipment
48,000 Furniture and Fixtures
2,500 Accounts Payable
6,000 Notes Payable
3,000 F. Big, Capital
73,000 F. Big, Drawing
2,000 Laundry Income
8,000
Water and Electric
1,500 Taxes and Licenses
1,000 _____
TOTAL
P 90,000- P 90,000-

Addl:
Trial Balance
is useful tool
in
preparing
financial
statements
such
as
Balance
Sheet,
Statement of
Changes
in
Owners
Equity,
and

THANK YOU!!!

_kware