• +44-190-022-0819 +44-190-022-0819
  • +1-248-268-9041 +1-248-268-9041
  • +61288800241 +61288800241


Search your solution from list of 1000+ questions


Product code: Accounting-QA459

T accounts

- Bank account - the 850 should be called sales not debtors

- Non--Current Assets Computer and Till - should have a PLCA line not SLCA

- PLCA Account - the total number of 6950 is incorrect.  If you split this out item by item it will be easier to see where the error here is

- Sales Account - the total number of 600 is incorrect.  Again, if you can break these down item by item it will be easier for me to see where the error is

Your Trial balance has taken over the 2 errors from the sales account and the PLCA account


Perfect Pies started trading on the 13th July 2015.   During the rest of July the following transactions were made:

  • Keith invests £3000 savings into the business
  • Perfect Pies gets a £20000 bank loan
  • Rent of £2500 is paid on the shop
  • Kitchen equipment is purchased for £15000 for which payment is made immediately
  • 1 computer and 1 till for the shop are purchased on credit for £350 each
  • Keith purchased £4000 worth of ingredients from Pastry Plc on 28 days credit and £2000 from Fillings Ltd also on 28 days credit
  • Joe from the Traditional Pie Company purchases £500 worth of pies with half paid immediately and half paid in 28 days
  • The electricity bill for the shop is paid by Julie, Keith’s PA for £350
  • Keith's team won an order worth £600 for delivery in August and this is paid in full
  • Keith draws £500 cash for himself.

Post the above transactions to the relevant T-account.

Calculate the carried down and brought down balances.

Transfer the bought down balances from the T-accounts to a Trial balance.


Download Questions

Trial Balance of Perfect Pies as at 31st July 2015

Related Questions in (Accounting)


Solution: The Journal of Helene Berr and Rue Ordener, Rue Labat 2 evidences that prove the difficulty and destructiveness that the people had to face in those four years. As mentioned by Berr (2009, p.23), in h ...


Solution: Employee communication highlights the sharing of ideas and information. In this competitive business world, information exchange is essential among employees to develop team performance effectively. m ...


Solution: As per Section 1 of the Thirteenth year plan describes about China’s two key objectives that will be accomplished if the National People’s Congress or the standing committee of this party passes t ...


Solution: (Feldman 2005) reference information extraction to be one of the weightiest pre-processing method that escalates the text mining potential significantly. Pre-processing is an essential part in informa ...


Solution: The pro forma income statement represents a trending statement that includes the probable net income value for the company considering the current growth and decline rates valid throughout the period ...


Solution: Mode is defined as the value which occurs more frequently in the data set. The mode for non-business is 82 while for business is only 59. P value can be calculated from z table . As per z table p valu ...


Solution: ABC assumes that there are different activities involved in different processes that cause costs andthe product, services, and customers are reasons for those activities. The UK customer segment is br ...


Solution: Residual earnings valuation method is used to calculate the intrinsic value of the stock based on the expected residual income of the company in the coming years. The residual income is discounted bac ...