Question

Complete T accounts for the transactions. Total the T accounts and add them to the trial balance. Use the trial balance to make sure the accounts are balanced.

1. On 1/3/xx there is an interest charge made for $1.35.
2. On 5/3/xx fuel costing $38.00 is purchased using cash.
3. On 6/3/xx there is a Visa sale for $2,999.00.
4. On 7/3/xx stationery (toner) costing $247.00 is purchased using cash.
5. On 11/3/xx there is a Visa sale for $2,759.00.
6. On 12/3/xx fuel costing $36.50 is purchased using a credit card.
7. On 14/3/xx there is a cash sale for $55.00.
8. On 19/3/xx fuel costing $96.75 is purchased using a credit card.
9. On 25/3/xx there is a MasterCard sale for $3,825.00.
10. On 25/3/xx there is another cash sale, this time for $16.00.
11. On 26/3/xx fuel costing $28.75 is purchased using cash.

Provide a summary of card transactions and card payments (sorted and sub totalled by card type).

BANK

DEBIT					CREDIT
Date	ref	amount	date	ref	amount

STATIONERY

DEBIT					CREDIT
DATE	REF	AMOUNT	DATE	REF	AMOUNT

MOTOR VEHICLE EXPENSES

DEBIT					CREDIT
DATE	REF	AMOUNT	DATE	REF	AMOUNT

SALES

DEBIT					CREDIT
DATE	REF	AMOUNT	DATE	REF	AMOUNT

INTEREST PAID

DEBIT					CREDIT
DATE	REF	AMOUNT	DATE	REF	AMOUNT

TRIAL BALANCE

ACCOUNT	DR	CR
BANK
STATIONERY
MOTOR VEHICLE EXPENSES
SALES
INTEREST PAID

SUMMARY OF CARD TRANSACTIONS

DATE	EXPENSE	AMOUNT
	TOTAL

SUMMARY OF CARD PAYMENTS

DATE	CARD TYPE	AMOUNT

Answer 1

Answer 1:

Completed T accounts and trial balance are as below: Trial balance debit and credit total matches ensuring that accounts are balanced:

Answer 2:

Summary of card transactions and card payments (sorted and sub-totalled by card type) are given below: