MAA261 Financial Accounting T2 2019 Assignment: Trial Balance Analysis

This assignment presents the trial balance for ABCDE Pty Ltd as of July 31, 2019, prepared by Piper Jiang. The trial balance includes account codes, account names, account types, and debit and credit balances for various accounts such as Sales Revenue, Cost of Goods Sold, Advertising Expense, Depreciation Expense, and various asset and liability accounts. The assignment brief outlines the context of ABCDE Pty Ltd, a retail company operating since July 1, 2017, using the Moving Weighted Average method and perpetual inventory recording. The company is registered for GST and uses specific depreciation methods. The assignment aims to assess students' understanding of accounting principles, including recording transactions, preparing financial statements, and utilizing accounting software. The provided trial balance serves as a key component for further financial analysis and statement preparation, aligning with the learning outcomes of the MAA261 Financial Accounting course.

Trial Balance ABCDE PTY LTD Piper Jiang
Trial Balance
ABCDE PTY LTD Piper Jiang
As at 31 July 2019
ACCOUNT CODE ACCOUNT ACCOUNT TYPE DEBIT CREDIT 30 JUN 2019
200 Sales Revenue 18,612.00 -
310 Cost of Goods Sold Direct Costs 7,520.00 -
400 Advertising Expense 463.64 -
416 Depreciation Expense 521.14 -
433 Insurance Expense 217.00 -
437 Interest Expense Expense 60.00 -
449 Motor Vehicle Expenses Expense 138.18 -
453 Office Expenses Expense 681.45 -
469 Rent Expense 3,442.73 -
477 Wages and Salaries Expense 4,452.00 -
600 Cash at bank Current Asset 10,514.00 23,505.00
610 Accounts Receivable Current Asset 22,049.00 3,430.00
611 Allowance for doubtful debtCurrent Asset 540.00 (352.00)
620 Prepayments Current Asset 1,953.00 -
630 Inventory Current Asset 6,592.41 11,400.00
710 Motor vehicle Fixed Asset 22,844.00 22,844.00
711
Less Accumulated
Depreciation on Motor
vehicle
Fixed Asset 2,357.98 (2,054.00)
720 Office furniture Fixed Asset 13,657.00 13,657.00
721
Less Accumulated
Depreciation on Office
furniture
Fixed Asset 2,030.27 (1,845.00)
730 Computer Fixed Asset 2,015.45 -
731 Less Accumulated
Depreciation on Computer
Fixed Asset 31.89 -
826 Office supplies Current Asset 271.00 497.00
800 Accounts Payable Current Liability 7,464.00 (5,120.00)
820 GST Current Liability 723.09 -
830 Interest Payable Current Liability 60.00 -
840 Historical Adjustment Current Liability 171.23 -
860 Telephone payable Current Liability - (218.00)
900 Loan Non-current Liability 13,737.00 (13,737.00)
960 Retained Earnings Equity 14,997.00 (14,997.00)
970 Owner A Share Capital Equity 37,010.00 (37,010.00)
Total 97,563.23 97,563.23 -