1. CHAPTER 33 Converting “T” Ledger Accounts To Continuous Balance Ledger Accounts Based on Qs 2, (Creditor) 7, (Debtor) 11 (Gains) and 12 (Expenses) in the Workbook

2. 2 R. Delaney Guidelines For Calculating Balances in Continuous Format Ledgers Add to previous balance Subtract from previous balance Add to previous balance Subtract from previous balance Add to previous balance Subtract from previous balance Credit entries Subtract from previous balance Add to previous balance Subtract from previous balance Add to previous balance Subtract from previous balance Add to previous balance Debit entries Liability A/Cs Asset A/Cs Gains A/Cs Expense A/Cs Creditor A/Cs Debtor A/Cs

3. 3 R. Delaney Q2 (A Creditor’s Ledger) Dr M. Malone A/C (A creditor) Cr 11,500Balance b/d1/3/12 15,000 11,500Balance c/d28/2/11 9,000PB1Purchases5/2/111,500PRB1Purchase Returns15/2/11 6,000PB1Purchases3/2/112,000PRB1Purchase Returns10/2/11 € FDetailsDate € FDetailsDate M. Malone A/C 11,5001,500PRB1Purchases Returns15/2/11 13,0002,000PRB1Purchases Returns10/2/11 15,000 9,000PB1Purchase 5/2/11 6,0006,000PB1Purchases3/2/11 €€€ BalanceCreditDebitFDetailsDate This is a credit entry therefore must be entered in credit column below This is a credit entry therefore must be entered in credit column below This is a debit entry therefore must be entered in debit column below This is a debit entry therefore must be entered in debit column below

4. 4 R. Delaney Q7 (A Debtor’s Ledger) S. Stynes A/C (A debtor) 27,000Balance b/d1/7/11 35,000 27,000Balance c/d30/6/1115,000SB1Sales8/6/11 8,000SRB1Sales Rts5/6/1120,000SB1Sales1/6/11 € FDetailsDate € FDetailsDate S. Stynes A/C 27,000 15,000SB1Sales8/6/11 12,0008,000SRB1Sales Returns5/6/11 20,00020,000SB1Sales1/6/11 €€€ BalanceCreditDebitFDetailsDate This is a debit entry therefore must be entered in debit column below This is a credit entry therefore must be entered in credit column below This is a debit entry therefore must be entered in debit column below

5. 5 R. Delaney Q11 (A Gain Account) Commission Received A/C (Gain) 22,500Balance b/d1/2/12 22,500 5,500CB1Bank31/1/12______ 2,000CB1Bank10/1/12 15,000Balance b/d1/1/1222,500Balance c/d31/1/12 €FDetailsDate€FDetailsDate Commission Received A/C 22,5005,500CB1Bank31/1/12 17,0002,000CB1Bank10/1/12 1/1/12 €€€ BalanceCreditDebitFDetailsDate This is the opening balance and is shown in the Balance column only Both of these are credit entries thus they will appear in the credit column below Balance b/d15,000

6. 6 R. Delaney Q12 (An Expense Account) Light and Heat A/C (Expense) ) 12,600Balance b/d1/3/12 12,600 ______4,100CB1Bank28/2/12 3,500CB1Bank15/2/12 12,600Balance c/d28/2/125,000Balance b/d1/2/12 €FDetailsDate€FDetailsDate Light and Heat A/C 12,6004,100CB1Bank28/2/12 8,5003,500CB1Bank15/2/12 5,000Balance b/d1/2/12 €€€ BalanceCreditDebitFDetailsDate This is the opening balance and is shown in the Balance column only Both of these are debit entries thus they will appear in the debit column below