MESSRS. BLANK & Co.: TRIAL LEDGER BALANCES. 31 December, 1890.
Account and instructions for closing entries.
Thomas Blank : Capital Account
Edward Blank : Capital Account
Thomas Blank : Drawing Account
Edward Blank : Drawing Account
(Credit the two Drawing Accounts with 5% Interest on the
Capital Accounts, and also pass the Balance of profit or loss
to the two Drawing Accounts in equal shares.)
Messrs. L. S.D. (Cash at Bank)
Cash on Deposit ...
Petty Cashier. (Imprest in hand)
Investments. (Balances standing at)
Say £900 Institute of Bankers 4 % Stock (value at 130
£1,000 Bexley Heath Railway Ord. Stock ( 150
£875 Oceania 3% Consolidated Stock 971 Pass the difference to Profit and Loss Account. Bills Receivable, as per List (make out a List and reserve
£300) ... Bills Payable, as per List (make out a List) Creditors on Loans and Mortgages, as per List (make out
a List) ... Stock (at 1 January, 1890) (Stock at 31 December, 1890,
£4.509 10s. 8d.)...
Plant and Machinery (urite off 71%)
Additions to plant and Machinery (transfer to Plant and
Machinery; no ariting off) ...
Freehold Land and Premises
Goodwill (write of" 25%)
Preliminary Expenses (write off 50%)
Purchases (during the year 1890)
Sales (during the year 1890) ...
Wages (include in Trading Account)...
Salaries (include in Profit and Loss Account, and so on
with remainder of P.L. items)
Rent, Rates, and Taxes...
Current Expenses (subdivide into Gas, Waler, and the
other 6 items given at paragraph 40 in Petty Cash)
Discounts and Allowances
Bad and Doubtful Debts ( fill in when ascertained')
Repairs and Alterations
Depreciation Account (fill in when ascertained) ...
Interest and Dividends (add Partners' interest when
Profit and Loss on Investments ( fill in when ascertained'