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U3A7 Assignment Template

1. The document provides instructions for recording journal entries and setting up a ledger for U3A7. 2. It instructs to record journal entries, ensure debits equal credits, set up the ledger using the chart of accounts, record opening balances, post to the ledger, and ensure debits equal credits in the ledger. 3. Sample journal entries and a sample general ledger are provided.

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AB - 11MM 649554 Mayfield SS
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611 views88 pages

U3A7 Assignment Template

1. The document provides instructions for recording journal entries and setting up a ledger for U3A7. 2. It instructs to record journal entries, ensure debits equal credits, set up the ledger using the chart of accounts, record opening balances, post to the ledger, and ensure debits equal credits in the ledger. 3. Sample journal entries and a sample general ledger are provided.

Uploaded by

AB - 11MM 649554 Mayfield SS
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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U3A7 Instructions

1. Record the journal entries. HST = 13%


2. Do an equality check to ensure that debits equal credits in the journal.
3. Set up the ledger using the Chart of Accounts.
4. Record the opening balances from the Trial Balance in the ledger.
5. Post the journal entries to the ledger and use formulas to create running balances.
6. Do an equality check to ensure that the debits equal credits in the ledger.

General Journal Page: 33

Date
Particulars P.R. Debit Credit
2015

Oct 4

10

15

21

25

These are pencil


footings - just a check to ensure
that debits equal credits.
These are pencil
footings - just a check to ensure
that debits equal credits.
- -
General Journal Page: 34

Date
Particulars P.R. Debit Credit
2015
Oct 30

30

- -
Fitzgerald Tattoo Artist

General Ledger

October 2015

101 Bank
Date Particulars P.R. Debit Credit Balance
2015 balance forward 2,900.00
Oct

Date Particulars P.R. Debit Credit Balance


2015 b/f

Date Particulars P.R. Debit Credit Balance


2015 b/f
Date Particulars P.R.

Debit Credit Balance


2015 b/f
Date Particulars P.R. Debit Credit Balance
2015 b/f
250 HST Payable
Date Particulars P.R. Debit Credit Balance
2015 b/f September 30
255 HST Recoverable
Date Particulars P.R. Debit Credit Balance
2015 b/f September 30
Date Particulars P.R. Debit Credit Balance
2015 b/f
Date Particulars P.R. Debit Credit Balance
2015
Date Particulars P.R. Debit Credit Balance
2015
Date Particulars P.R. Debit Credit Balance
2015
Date Particulars P.R. Debit Credit Balance
2015
- - -
Chart of Accounts Fitzgerald, Tattoo Artist
No. Account Trial Balance
101 Bank As at September 30, 2015
110 AR – P. Brown No. Account Debit Credit
115 Supplies 101 Bank 2900
120 Equipment 110 AR – P. Brown 370
205 A/P – Gravel Co. 115 Supplies 1420
250 HST Payable 120 Equipment 9075
255 HST Recoverable 205 A/P – Gravel Co. 2030
305 C. Fitzgerald, Capital 250 HST Payable 245
310 C. Fitzgerald, 255 HST Recoverable 43
405 Drawings
Tattoo Revenue 305 C. Fitzgerald, Capital 11533
505 Auto Expense 310 C. Fitzgerald, Drawings
510 Wages Totals 13808 13808

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