Lesson 59: The accounting equation and payables (creditors)
Continues on from the previous lesson. Here, a series of creditor-related transactions are investigated for their effect upon the Accounting Equation.
Extenders (Part B)
- On some blank paper, create the general ledger accounts and journals you would need to record the 20 transactions for September 2025.
- Enter the opening balances provided (as at 31 August 2025).
- Record the September transactions and total these as required.
- Prepare a trial balance for RED/BLACK as at 30 September 2025.