ABC Company has extracted the following list of balances from general ledger
at 31 July 20X9:
$
Sales 64,636
Opening inventory 2,413
Purchases 35,740
Expenses 8,710
Non-current assets (carrying amount) 15,991
Receivables 7,937
Payables 3,467
Cash at bank 447
Capital 3,132
What is the total of the debit balances in ABC’s trial balance at 31 July 20X9?
Answer
The debits are as follows:
$
Opening inventory ………………2,413
Purchases ……………………………35,740
Expenses …………………… …….. 8,710
Non-current assets …………… 15,991
Receivables ………………………..7,937
Cash at bank …………………… 447
Total Debit Balances ………… 71,238