MYOB AccountRight Practice Set Trial Balance - January 2019

This document presents the adjusted trial balance for The Digital Village as of January 2019, derived from a MYOB AccountRight Practice Set. The trial balance includes various accounts such as Cheque Account, Accounts Receivable, Inventory, Property & Equipment, Accounts Payable, Sales Revenue, Cost of Sales, and various expense and income accounts. The balance sheet provides a comprehensive overview of the company's financial position after adjusting entries. The assignment is designed to provide students with practical experience in accounting using MYOB software, simulating a complete one-month accounting cycle for a fictional business. This includes the presentation of debits and credits, which are critical for the financial reporting and analysis of the company's performance.

5/24/2019 Adjusted trial balance
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MYOB AccountRight Practice Set
Australian Edition 3, Updated for MYOB v19
Adjusted trial balance
The trial balance for The Digital Village as of 31 January AFTER the end of month adjusting entries is shown below:
The Digital Village
Trial Balance
January 2019
Account # Account YTD Debit ($) YTD Credit ($)
1-1110 Cheque Account 82,728
1-1180 Undeposited Funds 0
1-1190 Electronic Clearing Account 0
1-1200 Accounts Receivable 55,669
1-1210 Less Prov'n for Doubtful Debts 1,868
1-1300 Inventory 96,710
1-1400 Office Supplies 1,488
1-1500 Prepaid Rent 5,833
1-3110 Property & Equipment at Cost 55,500
1-3120 Property & Equipment Accum Dep 16,100
2-1200 Accounts Payable 49,573
2-1310 GST Collected 10,980
2-1330 GST Paid 9,714
2-1410 Salaries Payable 0
2-1420 PAYG Withholding Payable 3,090
2-1700 Interest Payable 70
2-1800 Short Term Loans 14,000
2-2100 Bank Loans 48,000
3-1100 Share Capital 45,000
3-8000 Retained Earnings 120,452
3-9999 Historical Balancing 0
4-1100 Sales Revenue 161,299
5-1100 Cost of Sales 108,509
6-1100 Depreciation Expense 16,100
6-1800 Office Supplies Expense 2,842
6-1930 Salaries Expense 22,298
6-2100 Rent Expense 1,167
6-2200 Telephone Expense 4,901
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5/24/2019 Adjusted trial balance
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6-2420 Electricity Expense 4,598
6-2500 Bank Charges 49
6-2600 Bad Debts Expense 2,137
8-1000 Interest Income 601
9-1000 Interest Expense 790
Total: 471,033 471,033
MYOB AccountRight Practice Set, Australian Edition 3, Updated for MYOB v19 (VMA3t.19)
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