Preparation of Trial Balance

The provided document is a solved assignment for accounting students. It includes a trial balance as at 31 March, 2018, for Sister's Tiling Services. The trial balance lists debit and credit balances in various general ledger accounts, including capital, cash at bank, building, accounts receivable, loan from bank, service fee revenue, commission revenue, wages, and more. This document is a valuable resource for students looking to understand the preparation of trial balances and balance sheets.

BZ102 – ACCOUNTING PRINCIPLES
PORTFOLIO QUESTIONS – Topics 3 & 4
Question 1
Assume that the following business is registered for GST.
For each of the following transactions, indicate in the table below
a) Whether or not GST is applicable, and if so, how much is payable or able to be
claimed as an input credit?
b) Indicate which source document/s would provide evidence of the transaction?
Transaction GST -
yes or
no?
If GST, how
much?
Which source document/s would provide
evidence of the transaction?
Paid for overseas flights $2,200 to
attend a conference
No. Bank statement
Purchased goods on credit from W
Willis $770
Yes $70 Tax Invoice of purchase
Received and banked daily cash
sales $1,807
No Bank Statement
Sold inventories on credit to B. Blake
$979
Yes $89 Tax Invoice of Sale
Paid a cheque to Telstra $429 No Bank Statement
Banked daily cash sales $1 716 No Bank Statement
Bought goods on credit from M Miles
$858
Yes $78 Tax Invoice of purchase
Interest received on investment
account $63
No Interest certificate / Bank Statement
Monthly wages and salaries paid
directly from business bank account
to various employees $4,600
No Bank Statement
Paid off some of the amount owing to
M. Miles $700
No Bank Statement
Dividend received from investment
shares $215
No Bank Statement
Sent tax invoice to C Hunter for
goods sold $1,793
Yes $163 Tax Invoice of Sale
Received some money owing from
an account receivable, C. Hunter,
$1,100
No Ledger and Bank Statement
Returned some faulty goods which
had been bought on credit from W.
Willis for $80
Yes $7.27 Credit/ Debit Note
Recorded the interest which had
been charged on overdrawn bank
account - $28
No Bank Statement

Question 2
Transaction Analysis and Posting to the General Ledger
Refer to the Journal entries which were prepared for
Question 3 in topics 1 and 2 portfolio tasks for Sister’s Tiling
Service. (You may use the correct journals which were
provided as suggested solutions for that task)
Required -
a) Post from the journals to the general ledger accounts,
in “T” format (Use the General Ledger paper provided below)
b) Prepare a Trial Balance (refer attached)
(Original transactions from Weeks 1 and 2 are reproduced below for
your convenience)
March 23 Performed tiling services ‘cash job’ of $600, which was banked
March 25 Received commission from Tiling Manufacturers Pty Ltd for being “best tradie” for the
month.
March 28 Attended building site and repaired floor tiling. Invoiced the builder $350, due 7 days.
March 29 Paid apprentice wages $700
March 30 Client paid invoice from last week, directly to Sisters Tiling bank account, $1150
March 31 Transferred $800 from bank account to pay monthly loan repayment.

Journal Entries
Date Particulars Dr./Cr. Amount
March 23 Cash at Bank A/c Dr. $ 600
To Service Fee Revenue Cr. $ 600
March 28 Accounts Receivable A/c Dr. $ 350
To Service Fee Revenue Cr. $ 350
March 29 Wages Dr. $ 700
To Cash at Bank A/c Cr. $ 700
March 30 Cash at Bank A/c Dr. $ 1,150
To Accounts Receivable A/c Cr. $ 1,150
March 31 Loan from Bank A/c Dr. $ 800
To Cash at Bank A/c Cr. $ 800
General Ledger for Sister’s Tiling Service
DEBIT CREDIT
Date Details Amt. $ Date Details Amt. $
Capital A/c
31/3/18 Balance c/d 44,000 1/1/18 Balance b/fwd 40,000
1/3/18 From Cash at Bank 4,000
44,000 44,000
Cash at Bank A/c
1/3/18 From Capital 4,000 29/3/18 Wages 700
28/3/18 Service Fee
Revenue
600 31/3/18 Loan from
Bank
800
30/3/18 Accounts
Receivable
1,150 31/3/18 Balance c/d 4,250
5,750 5,750

Building A/c
1/1/18 Balance b/fwd 200,000 31/3/18 Balance c/d 200,000
200,000 200,000
DEBIT CREDIT
Date Details Amt. $ Date Details Amt. $
Accounts
Receivable A/c
28/3/18 Service Fee
Revenue
350 30/3/18 Cash at Bank 1,150
31/3/18 Balance c/d 800
1,150 1,150
Loan from Bank
A/c
31/3/18 Cash at Bank 800 1/1/18 Balance b/f 160,000
31/3/18 Balance c/d 159,200
160,000 160,000
Service Fees
Revenue a/c
31/3/18 Balance c/d 950 23/3/18 Cash at Bank 600

28/3/18 Accounts
receivable
350
950 950
Commission
Revenue A/c
Wages A/c
29/3/18 Cash at Bank 700 31/3/18 Balance c/d 700
700 700

Sister’s Tiling Services
TRIAL BALANCE as at 31 March, 2018
General Ledger Accounts DEBIT CREDIT
Capital 44,000
Cash at Bank 4,250
Building 200,000
Accounts Receivable 800
Loan from Bank 159,200
Service Fee Revenue 950
Commission Revenue
Wages 700
$ 204,950 $ 204,950