You are required to prepare a trial balance as at 13 September 2022, using the general ledger for P Barrack prepared in answering question 4.8, where perpetual inventory was used.

Question 4.8

Refer back to the general journals prepared in answering question 4.6 for P Barrack where perpetual inventory applies. You are required to post these general journals to the general ledger in T and/or columnar ledger format. The general ledger is required to be in elementary chart of account order. This solution is used in question 4.10.

Question 4.10

You are required to prepare a trial balance as at 13 September 2022, using the general ledger for P Barrack prepared in answering question 4.8, where perpetual inventory was used.

Question 4.6

From the following transactions in September 2022 prepare the general journal for P Barrack; the perpetual inventory system applies.
1 September: Commenced business with bank $2000, and other assets with values as shown: inventory $1000, motor vehicles $8000 and premises $35 000.
3 September: Inventory was purchased by P Barrack for $1012 ($920 + $92 GST) and paid cash.
4 September: P Barrack’s bank granted a mortgage of $15 000 over the premises.
6 September: Machinery $8250 ($7500 + $750 GST) was purchased on credit by P Barrack from A Vince, an account payable.
7 September: P Barrack purchased inventory on credit from V Alan (an account payable) $1320 ($1200 + $120 GST).
10 September: Machinery was purchased by P Barrack for $2530 ($2300 + $230 GST) cash.
13 September: Payment was made by P Barrack to account payable, A Vince $8250.