Preparing a Post-Closing Trial Balance for Ball-Mart - June 2018

This assignment presents a solved post-closing trial balance for Ball-Mart, Australasian Edition 3, as of June 30, 2018. It includes a detailed listing of account numbers, account names, debit balances, and credit balances, ensuring that the total debits equal total credits (263,875). The solution covers k...Read More

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Manual Accounting Practice Set
Ball-Mart, Australasian Edition 3
Feedback: Post-closing trial balance
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Now that the closing entries have been journalised and posted, you are required to prepare a post-closing trial balance.
This trial balance is prepared as a final check that closing entries have been journalised and posted correctly.
Instructions for post-closing trial balance
Using the general ledger, create a post-closing trial balance as at the end of June.
Remember to enter all answers to the nearest whole dollar.
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(Q=920.Post closing trial balance)
Ball-Mart
Post-closing Trial Balance
As at 30/06/2018
Account No. Name Debit
($)
Credit
($)
100 Cash at Bank 105347 0

6/7/2018 Post-closing trial balance
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102 Short-term Investments 21000 0
110 ARC - Accounts Receivable Control 5464 0
112 Interest Receivable 105 0
120 Inventory 60765 0
130 Office Supplies 2994 0
140 Prepaid Rent 2000 0
141 Prepaid Advertising 6000 0
142 Prepaid Insurance 2200 0
150 Cash Registers 8000 0
151 Accum Depn: Cash Registers 0 1354
160 Store Fixtures 50000 0
161 Accum Depn: Store Fixtures 0 14463
210 APC - Accounts Payable Control 0 1000
220 Wages Payable 0 1320
221 Electricity Payable 0 837
222 Water Payable 0 249
225 Interest Payable 0 250
250 Bank Loan Payable 0 50000
300 Share Capital 0 60000
301 Retained Earnings 0 134402
Total 263875 263875
Feedback
Ball-Mart
Post-closing Trial Balance
As at 30/06/2018
Account No. Name Debit
($)
Credit
($)
100 Cash at Bank 105,347
102 Short-term Investments 21,000
110 ARC - Accounts Receivable Control 5,464
112 Interest Receivable 105
120 Inventory 60,765
130 Office Supplies 2,994
140 Prepaid Rent 2,000
141 Prepaid Advertising 6,000
142 Prepaid Insurance 2,200

6/7/2018 Post-closing trial balance
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150 Cash Registers 8,000
151 Accum Depn: Cash Registers 1,354
160 Store Fixtures 50,000
161 Accum Depn: Store Fixtures 14,463
210 APC - Accounts Payable Control 1,000
220 Wages Payable 1,320
221 Electricity Payable 837
222 Water Payable 249
225 Interest Payable 250
250 Bank Loan Payable 50,000
300 Share Capital 60,000
301 Retained Earnings 134,402
Total 263,875 263,875
Manual Accounting Practice Set
Ball-Mart, Australasian Edition 3 (VBA3q)
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