Detailed Trial Balance Report for Tech Head, January 2019, Australia

This assignment presents the trial balance for Tech Head, located in Melbourne, Australia, for January 2019. The trial balance includes a detailed list of accounts with their respective debit and credit balances. Key accounts include cash, accounts receivable, inventory, property and equipment, accounts payable, various expense accounts (salaries, rent, depreciation), and revenue accounts (sales). The report provides a snapshot of the company's financial position, including assets, liabilities, equity, revenues, and expenses, offering a comprehensive overview of the company's financial performance during the specified period. The total debits and credits are balanced at $565,613.00, confirming the accuracy of the accounting equation and demonstrating the financial health of the business at the time.

Tech Head (Edwin Moreno)
611 Thorpe Drive
Melbourne, VIC, 3000
Australia
Trial Balance
January 2019
4/20/2019
11:17:20 AM
Page 1
Account # Account Debit Credit YTD Debit YTD Credit
1-1110 Cheque Account $10,599.00 $86,937.00
1-1180 Undeposited Funds $0.00 $0.00
1-1190 Electronic Clearing Account $0.00 $0.00
1-1200 Accounts Receivable $54,118.00 $85,369.00
1-1210 Less Prov'n for Doubtful Debts $1,808.00 $2,433.00
1-1300 Inventory $22,560.00 $96,930.00
1-1400 Office Supplies $672.00 $1,045.00
1-1500 Prepaid Rent $4,167.00 $4,167.00
1-3110 Property & Equipment at cost $3,000.00 $55,000.00
1-3120 Property & Equipment Accum $392.00 $17,234.00
2-1200 Accounts Payable $12,932.00 $41,906.00
2-1310 GST Collected $8,800.00 $16,338.00
2-1330 GST Paid $4,804.00 $10,779.00
2-1410 Salaries Payable $0.00 $0.00
2-1420 PAYG Withholding Payable $990.00 $2,850.00
2-1700 Interest Payable $87.00 $87.00
2-1800 Short Term Loans $13,000.00 $13,000.00
2-2100 Bank Loans $0.00 $40,000.00
3-1100 Share Capital $0.00 $55,000.00
3-8000 Retained Earnings $0.00 $137,347.00
3-9999 Historical Balancing $0.00 $0.00
4-1100 Sales Revenue $88,000.00 $238,766.00
5-1100 Cost of Sales $58,700.00 $164,236.00
6-1100 Depreciation Expense $392.00 $17,234.00
6-1800 Office Supplies Expenses $528.00 $2,587.00
6-1930 Salaries Expense $6,600.00 $26,297.00
6-2100 Rent Expenses $833.00 $833.00
6-2200 Telephone Expense $1,600.00 $5,214.00
6-2420 Electricity Expense $1,100.00 $4,830.00
6-2500 Bank Charges $13.00 $50.00
6-2600 Bad Debt Expense $1,808.00 $3,418.00
8-1000 Interest Income $652.00 $652.00
9-1000 Interest Expense $287.00 $687.00
Total: $149,221.00 $149,221.00 $565,613.00 $565,613.00