Accounting Assignment: Journals, Ledgers, Trial Balance and Petty Cash

This accounting assignment covers a range of fundamental concepts, including transaction analysis, general journal entries, ledger postings, and trial balance preparation. It begins with a detailed analysis of various financial transactions, requiring students to complete transaction analysis charts. The assignment then progresses to preparing general journal entries and posting them to the appropriate ledger accounts, ensuring the correct application of debit and credit principles. A trial balance is then constructed to verify the equality of debits and credits. The assignment also delves into petty cash management, requiring the preparation of a petty cash book and the creation of general journal entries for the establishment and reimbursement of the petty cash fund. Furthermore, the assignment explores accounts payable and receivable, including posting transactions to the general ledger and subsidiary ledgers, and preparing schedules of accounts payable and receivable. Finally, the assignment concludes with a discussion of double-entry accounting and steps to balance a trial balance.