ACCT1008: Winning Smile Trial Balance and Financial Analysis

This assignment solution covers a comprehensive accounting problem, beginning with a detailed general journal including transactions from October 2019. The solution includes the creation of a Cash at Bank (CAB) and Accounts Receivable (A/R) ledger, followed by the preparation of a trial balance for Winning Smile as of November 30, 2019. The solution also involves posting updated general ledger balances to a partially completed trial balance. Furthermore, the assignment includes a letter to Heather Prider analyzing two transactions: a loan payable transaction and owner's drawings, clarifying the classification of elements and the application of the consistency assumption in accounting. References to accounting principles and standards are included to support the analysis.