Hi!

I have a query about my Accounting Assignment.

My trial balance does not BALANCE and I am struggling to see where I have gone wrong.

Any help would be greatly appreciated!

Thanks

W ACCT1008_SP4 2020_Assignment Part A Q . Search in Document Home Insert Design Layout References Mailings Review View "+ Share ~ Line Numbers nden Spacing Margins Orientation Size E Left: 0 cm Columns Breaks be Hyphenation Before: 0 pt * Right: 0 cm After: Position 0 pt Wrap Bring Send Selection Group Text Forward Backward Pane Align Rotate Part 2 (12.5 marks) Cash at Bank (CAB) June 1 Op Balance 20 500 June 3 Office Equipment 9 800 The following general journal entries for Advanced Kitchens Pty Ltd have been prepared by you for transactions June 17 Sales 2 800 June 8 Insurance Expense 2 000 occurring in June 2020, however you have not yet posted them to the General Ledger 123 300 June 1 Drawings 1 500 June 27 Rent Expense 1 400 Required Post the General journals recorded below to the General Ledgers provided on the following pages. Balance 108 60 Balance 14 700 Remember to foot (balance) each ledger to determine the closing balance (refer to hints below). Hints to assist in completing the ledgers: Opening balances have been provided in some of the ledgers - DO NOT delete the opening balances provided. The ledgers are formatted using tables therefore it is best to navigate through the ledgers using the 'tab' function When using tables, it is often easier to click on the "," function in the menus so you can easily see the formatting. It is acceptable to shorten the account names in descriptions i.e. Cash at Bank = CAB Office Equipment June 1 Op Balance 70 000 Date Details Debit ($) Credit ($) June 3 CAB + AP 9 80 3 June Office Equipmen 9 800 Balance 79 80 Cash at Bank 6 500 Accounts Payable 3 300 (Purchased office equipment on $6 500 cash and $3 300 credit) 8 June Insurance Expense 2 000 Cash at Bank 2 000 Motor Vehicle (Paid insurance premium to BIT Insurance Pty Ltd) June 23 Capital 35 000 12 June Drawings 1 500 Balance 35 000 Cash at bank 500 (Ken withdrew cash from the business for his personal use 17 June Cash at Bank 2 800 Sales revenue 2 800 Accounts Payable (A customer paid cash for purchasing two kitchen ovens) June 1 Op Balance 25 000 June 30 Office Equipment 3 300 21 June Bank Loan 20 00 Cash at Bank 20 000 Balance 28 300 (The business settled the bank loan) 23 June Motor Vehicle 35 00 Capital 35 000 (Ken contributed his personal motor vehicle to the business) 27 June Rent Expense 1 400 Cash at Bank 1 400 (Paid the rent expense for the month 30 June Accounts Payable 3 300 Cash at Bank 3 300 (Paid the outstanding amount form the purchase of office equipment on 3 June) Page 8 of 14 2815 Words OX English (AUS) 120%W ACCT1008_SP4 2020_Assignment Part A Q . Search in Document Home Insert Design Layout References Mailings Review View "+ Share ~ Line Numbers nden Spacing . . Margins Orientation E Left: 0 cm Before: 0 pt Size Columns Breaks be Hyphenation * Right: 0 cm After: Position 0 pt Wrap Bring Send Selection Forward Backward Pane Align Group Rotate Text 1 . t p 1 2 , 1 , 3 , 1 , 9 , 1 , 5 , 1 , 5 , 1 , 7 , 1 , 8 , 1 , 9 , 1 , 20, 1, 1 1 , 12 1,13, 134, 1 , 15, 1,16 1 17 18 19 Part 3 (4.5 marks) Bank Loan June 1 Op Balance 180 000 Required: June 21 Cash at Bank 20 000 Post the updated General Ledger balances calculated in Part 2 to the partially completed Trial Balance provided below. Total both the debit and credit columns on completion. Balance 200 000 NOTE: You are not required to prepare any financial statements from this Trial Balance. Advanced Kitchens Pty Ltd Trial Balance Drawings 30 June 2020 June 1 Op Balance 29 700 June 12 Cash at Bank 1 500 Debit ($) Credit ($) Advance Kitchens Pty Ltd Balance 31 200 Trial Balance 30 June 2020 Capital Electricity Expense 4 500 June 1 Op Balance 90 000 Repairs Expense 009 0Z June 23 Motor Vehicle 35 000 Delivery Vans 260 000 Cash at Bank 108 600 Balance 325 000 Office Gas Expense 16 900 Accounts Payable 28 300 Office Supplies Expense 13 020 Drawings - Ken Martin 31 200 Insurance Expense 24 400 Sales Revenue 320 000 Water Expense 2 840 June 1 Op Balance Cash at Bank 2 800 Capital - Ken Martin 325 000 Accounts Receivable 72 800 Balance 322 800 Bank Loan 200 000 Inventory 123 100 Office Equipment 79 800 Sales Revenue 322 800 Insurance Expense Accumulated Depreciation - Office Equipment 12 800 June 1 Op Balance 22 400 Office Laptops 6 000 June 8 Cash at Bank 2 000 Cleaning Expense 7 500 Miscellaneous Expense 23 000 Balance 24 400 Sales Discount 8 240 Administrative Expense 16 500 Motor Vehicle 35 000 Rent Expense 11 600 Rent Expense Totals 865 600 888 900 June 1 Op Balance 10 200 June 27 Cash at Bank 1 400 Balance 11 600 Page 9 of 14 2815 Words X English (AUS) E 120%