Trial Balance Example.

Transaction 5 says that suppliers are paid what they are owed and $100 is paid for rent. Credits of $5,000 and $100 are showing on cash but there should also have been a debit of $5,000 put to suppliers which would result in a zero balance on suppliers and a debit of $100 for rent. If you add these the trial balance will balance.

Thanks very much. On page 31, I added a DR dated 31/1/13 for 5000 under the Supplier Account, and added a rent account with a DR dated 31/3/13 for 100. Now the trial balance makes sense! Lesson learnt for me is to check the dates of transaction to make sure every transaction has a double entry. Is that meant to be a test or is this an ommission in the text?

I'm glad it balances now. I'm not sure whether it's meant to be like that or not, possibly an ommission as I don't think it told you to complete the entries, did it? It might be worth reporting it, I'm not sure if the tutors monitor this forum. There's a contact button at the bottom of this page.

Corrections are in hand to add a Rent account and also to recognise the payment to suppliers. Sorry about the errors.

But the rent account should be debited by $100 NOT $5000..Please check and make correction if needed..

Thanks. This has been corrected.