Recording in the ledger and trial balance
(a) Using the business transactions in problem 4.33, record the transactions in the ledger of Candy Wong.
In problem 4.33
June 6Commenced business operations with a $10 000 cash injection.
8 Paid internet advertising fees $330.
11 Purchased drawing board on credit $1130.
16 Paid electricity account $126.
21 Purchased stationery for cash $176.
22 Sent invoice to client for services performed $374.
23 Purchased boyfrienda new iPadfor his birthday $490.
24 Paid business registration fee to local council $122.
28 Withdrew cash from business $400.
29 Paid business directory advertising expense $250.
30 Received interest from business bank account $5.70.
(b) What is the advantage of recording in the ledger compared to the journal?
(c) Prepare a trial balance for Candy Wong at 30 June 2014