Preparing Post-Closing Trial Balance - iCandy, Australasian Edition 3

This document presents a solved post-closing trial balance for iCandy, Australasian Edition 3. The trial balance is prepared after the closing entries have been journalized and posted, serving as a final check for accuracy. It includes account numbers, names, and debit/credit balances for various assets, liabilities, and equity accounts such as Cash at Bank, Accounts Receivable Control, Inventory, Office Supplies, Prepaid expenses, Cash Registers, Store Fixtures, Accumulated Depreciation, Accounts Payable Control, Wages Payable, and Share Capital. The solved trial balance ensures that the total debits equal the total credits, verifying the correctness of the closing entries. Desklib provides access to similar solved assignments and study resources for students.

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Manual Accounting Practice Set
iCandy, 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=960.Post closing trial balance)
iCandy
Post-closing Trial Balance
30 June 2017
Account No. Name Debit Credit

8/31/2017 Post-closing trial balance
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($) ($)
100 Cash at Bank 97235 0
110 ARC - Accounts Receivable Control 51401 0
120 Inventory 50104 0
130 Office Supplies 643 0
140 Prepaid Rent 4800 0
141 Prepaid Advertising 8000 0
142 Prepaid Insurance 3320 0
150 Cash Registers 8000 0
151 Accum Depn: Cash Registers 0 1750
160 Store Fixtures 47000 0
161 Accum Depn: Store Fixtures 0 24851
210 APC - Accounts Payable Control 0 44084
220 Wages Payable 0 1800
221 Electricity Payable 0 271
222 Water Payable 0 237
225 Interest Payable 0 420
250 Bank Loan Payable 0 42000
300 Share Capital 0 60000
301 Retained Earnings 0 95090
Total 270503 270503
Feedback
iCandy
Post-closing Trial Balance
30 June 2017
Account No. Name Debit
($)
Credit
($)
100 Cash at Bank 97,235
110 ARC - Accounts Receivable Control 51,401
120 Inventory 50,104
130 Office Supplies 643
140 Prepaid Rent 4,800
141 Prepaid Advertising 8,000
142 Prepaid Insurance 3,320

8/31/2017 Post-closing trial balance
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150 Cash Registers 8,000
151 Accum Depn: Cash Registers 1,750
160 Store Fixtures 47,000
161 Accum Depn: Store Fixtures 24,851
210 APC - Accounts Payable Control 44,084
220 Wages Payable 1,800
221 Electricity Payable 271
222 Water Payable 237
225 Interest Payable 420
250 Bank Loan Payable 42,000
300 Share Capital 60,000
301 Retained Earnings 95,090
Total 270,503 270,503
Manual Accounting Practice Set
iCandy, Australasian Edition 3 (VSA3q)
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