Extended Trail Balance

Question 1

How is Capital recorded on a trial balance?

Answer 1

Credit - SFP

Question 2

How is Sales recorded on a trial balance?

Answer 2

Credit - SPL

Question 3

How is Sales Returns recorded on a trial balance?

Answer 3

Debit - SPL

Question 4

How is rent recorded on a trial balance?

Answer 4

Debit - SPL

Question 5

How is advertising recorded on a trial balance?

Answer 5

Debit - SPL

Question 6

How is Bank recorded on a trial balance?

Answer 6

Debit - SFP

Question 7

How is Office Expenses recorded on a trial balance?

Answer 7

Debit - SPL

Question 8

How is Purchases recorded on a trial balance?

Answer 8

Debit - SPL

Question 9

How is Purchase Returns recorded on a trial balance?

Answer 9

Credit - SPL

Question 10

How is Fixtures and Fittings recorded on a trial balance?

Answer 10

Debit - SFP

Question 11

How is Accumulated Depreciation recorded on a trial balance?

Answer 11

Credit - SFP

Question 12

How is Machinery recorded on a trial balance?

Answer 12

Debit - SFP

Question 13

How is Receivables recorded on a trial balance?

Answer 13

Debit - SFP

Question 14

How is Payables recorded on a trial balance?

Answer 14

Credit - SFP

Question 15

How is VAT recorded on a trial balance?

Answer 15

Credit - SFP

Question 16

How is Cash recorded on a trial balance?

Answer 16

Debit - SFP

Question 17

How is Gas and Electricity recorded on a trial balance?

Answer 17

Debit - SPL

Question 18

How are Salaries recorded on a trial balance?

Answer 18

Debit - SPL

Question 19

How is Irrecoverable debt recorded on a trial balance?

Answer 19

Debit - SPL (expenses)

Question 20

How is Accrued expenses recorded on a trial balance?

Answer 20

Credit - SFP

Question 21

How is Depreciation charge recorded on a trial balance?

Answer 21

Debit - SPL

Question 22

How is allowence for doubtful debt adjustment recorded on a trial balance?

Answer 22

Debit - SPL

Question 23

How is allowence for doubtful debt adjustment recorded on a trial balance?

Answer 23

Credit - SPL

Question 24

How to calculate diminishing depreciation for the trial balance?

Answer 24

Cost - Acc depr = Carrying Amount
Carrying amount x Percentage

Question 25

What is Opening inventory in the TB?

Answer 25

Debit - P&L

Question 26

What is discounts received in the TB?

Answer 26

Debit - P&L

Question 27

What is closing inventory in TB

Answer 27

Credit - P&L Debit - SFP