Kimona Webley

2001882
Miss Samuda (Tuesdays 11am-1pm)
ASSIGNMENT – PREPARATION OF A TRIAL BALANCE

1. Sheldon Stewart is a sole trader who owns an auto parts store located in Clarendon. The following
transactions occurred during the first month of operation. Record them in the general ledger and
EXTRACT a trial balance.

March1 Started business with $100,000 in bank and furniture valued at $30,000.
March 4 Paid rent for garage $18,000, by cheque
March5 Bought merchandise from Auto World Ltd on credit, $80,000
March 8 Received loan from London National bank, $230,000 by cheque
March 9 Bought merchandise from Car Line Ltd $60 000, cash
March 12 Sold merchandise on credit to Big Rat Car Mart Ltd, $30,000
March 15 Sold merchandise for cash, $56,000.
March 22 Paid telephone bill by cheque, $5,000
March 23 Paid wages by cash, $12,000
March 24 Paid electricity by cheque, $2,000
March 26 Received commission by cash, $3,500 (from Auto world Ltd)
March 27 Received $18,000 cash, from Big Rat Car Mart Ltd
March 28 Returned merchandise to Auto world Ltd. $650
March 29 Paid Auto World Ltd. $40,000 by cheque
March 30 Bought a new computer system on credit from Compact Ltd, $90,000.
March 31 Big Rat Car Mart Ltd returns damaged merchandise, $2,700

1
Kimona Webley
2001882
Miss Samuda (Tuesdays 11am-1pm)

PLEASE COPY AND PASTE YOUR EXCEL WORKSHEET OF YOUR TRIAL BALANCE ON THIS PAGE.

Sheldon Stewart Auto Parts

Trial Balance
Particulars Dr Cr
Capital $ 130,000.00
Bank $ 265,000.00
Furniture $ 30,000.00
Purchases $ 140,000.00
Rent $ 18,000.00
London National Bank $ 230,000.00
Cash $ 65,500.00
Car Line $60,000.00
Auto World $39,350.00
Sales $86,000.00
Big Rat Car Mart $ 9,300.00
Telephone Bill $ 5,000.00
Wage $ 12,000.00
Electricity $ 2,000.00
Commission $ 3,500.00
Return Outwards $ 650.00
Computer $ 90,000.00
Compact Ltd. $ 90,000.00

Return Inwards $ 2,700.00

$ 639,500.00 $ 639,500.00