I need help with this accounting problem.?

Question

Suppose you are given a Trial balance as at 31 March this year.
with the following information:
Debit
Cash at Bank $2700
etc...

Now, in April, you performed certain transactions:
April 2 Paid the rent for April $ 555


The question I like to know is how do you incorporate past entries into present entries in a T account. I think I need to use balance c/d and balance b/d here. Am I correct? Could you explain those 2 concepts and why at the end of a T account Balance c/d is the same value to Balance b/d?

Please help here.

Answer 1

Your T-accounts go on for a year, until you close your a/cs at the end of the yr. If you close them monthly, then your closing balance at the end of 1 month will be your opening bal. at the beginning of the next month, and so on, until the 12th mth, when the grand total gets closed off to the trial balance.

Click on the link for an excellent discussion of T-a/cs including illustrations.

Answer 2

Been there, carried out that, have been given the perfect answer :) NatWest Step account. you merely get a paying in e book, yet you do get a chip and pin Solo/Maestro debit card. you apart from mght get slightly pastime on any money you have in. clearly you may have wages paid in and direct debits can circulate out. it is likewise valid for a Paypal account. After 6 month or so, while they're happy with how that's working you may practice for a familiar branch account with a cheque e book - in case you like. do no longer take the Gold benefit (default) account even with the shown fact that, it expenses £12 a month for the privilege (noting that some people do make the main of this selection). as quickly as you have a brilliant-unfold cheque account, all of it danger they are going to have confidence you with visa variety debit card.

Answer 3

I would like to answer this for you. However, I'm not sure what you;re looking for. What do you mean by c/d and b/d?