Extended Trail Balance Flashcards
How is Capital recorded on a trial balance?
Credit - SFP
How is Sales recorded on a trial balance?
Credit - SPL
How is Sales Returns recorded on a trial balance?
Debit - SPL
How is rent recorded on a trial balance?
Debit - SPL
How is advertising recorded on a trial balance?
Debit - SPL
How is Bank recorded on a trial balance?
Debit - SFP
How is Office Expenses recorded on a trial balance?
Debit - SPL
How is Purchases recorded on a trial balance?
Debit - SPL
How is Purchase Returns recorded on a trial balance?
Credit - SPL
How is Fixtures and Fittings recorded on a trial balance?
Debit - SFP
How is Accumulated Depreciation recorded on a trial balance?
Credit - SFP
How is Machinery recorded on a trial balance?
Debit - SFP
How is Receivables recorded on a trial balance?
Debit - SFP
How is Payables recorded on a trial balance?
Credit - SFP
How is VAT recorded on a trial balance?
Credit - SFP
How is Cash recorded on a trial balance?
Debit - SFP
How is Gas and Electricity recorded on a trial balance?
Debit - SPL
How are Salaries recorded on a trial balance?
Debit - SPL
How is Irrecoverable debt recorded on a trial balance?
Debit - SPL (expenses)
How is Accrued expenses recorded on a trial balance?
Credit - SFP
How is Depreciation charge recorded on a trial balance?
Debit - SPL
How is allowence for doubtful debt adjustment recorded on a trial balance?
Debit - SPL
How is allowence for doubtful debt adjustment recorded on a trial balance?
Credit - SPL
How to calculate diminishing depreciation for the trial balance?
Cost - Acc depr = Carrying Amount
Carrying amount x Percentage
What is Opening inventory in the TB?
Debit - P&L
What is discounts received in the TB?
Debit - P&L
What is closing inventory in TB
Credit - P&L
Debit - SFP
