What is a nominal ledger - Part 4 Print
Written by Nilsson Denver   
Friday, 04 July 2008 21:26

part 1, part 2, part 3

Now let us add the last items, the transactions in the General Journal Daybook

General Journal Daybook, Page 1

Date Details Folio Dr Cr
30/1/06 Gross Wages NL330 3000.00
30/1/06 Employers PRSI NL331 300.00
30/1/06 Employee Prsi NL712 500.00
30/1/06 Employee Tax NL712 600.00
30/1/06 Employee Net Pay NL713 1900.00
30/1/06 Employers Prsi NL712 300.00
_______ _______
3300.00 3300.00
_______
_______		 _______
_______

being wages for the month of January 2006

Here are the final nominal ledger accounts with all the transactions

701-Trade Creditors Control A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Payments BP1 500.00 1/1/06 Balance b/f 500.00
31/1/06 Balance c/f 121.00 31/1/06 Invoices PB1 121.00
______ ______
621.00 621.00
______ ______
______ ______
1/2/06 Balance b/f 121.00
201- Parts A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Invoices PB1 100.00 31/1/06 Balance c/f

100.00
______

______
100.00 100.00
______ ______
______ ______
1/2/06 Balance b/f 100.00
602-Trade Debtors Control A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance b/f 2345.00 31/1/06 Receipts BR1 2345.00
31/1/06 Invoices SI1 2950.00 31/1/06 Balance c/f 2950.00
______ ______
5295.00 5295.00
______ ______
______ ______
1/2/06 Balance b/f 2950.00
101- Sales -Parts A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance c/f 1500.00 31/1/06 Invoices SI1

1500.00
______

______
1500.00 1500.00
______ ______
______ ______
1/2/06 Balance b/f 1500.00
102- Sales -Services A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance c/f 1000.00 31/1/06 Invoices SI1

1000.00
______

______
1000.00 1000.00
______ ______
______ ______
1/2/06 Balance b/f 1000.00
601-Bank A/c
Date Details Folio

Amount

 Date Details Folio

Amount
1/1/06 Balance b/f

1000.00

 31/1/06 Payments BP1

2400.00
31/1/06 Receipts BR1

2345.00

 31/1/06 Balance c/f

945.00
______ ______
3345.00 3345.00
______ ______
______ ______
1/2/06 Balance b/f 945.00
713-New Wages Control A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Payments BP1 1900.00 31/1/06 Journal GJ1 1900.00
31/1/06 Balance c/f 0.00
______ ______
1900.00 1900.00
______ ______
______ ______
1/2/06 Balance b/f 0.00
711-Vat Control A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Invoices PB1 21.00 31/1/06 Invoices SI1 450.00
31/1/06 Balance c/f 429.00
______ ______
450.00 450.00
______ ______
______ ______
1/2/06 Balance b/f 429.00
330-Gross Wages A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance c/f 3000.00 31/1/06 Journal GJ1

3000.00
______

______
3000.00 3000.00
______ ______
______ ______
1/2/06 Balance b/f 3000.00
331- Employer Prsi A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance c/f 300.00 31/1/06 Journal GJ1

300.00
______

______
300.00 300.00
______ ______
______ ______
1/2/06 Balance b/f 300.00
712-Paye/Prsi Control A/c
Date Details Folio Amount Date Details Folio Amount
31/1/06 Journal GJ1 500.00
31/1/06 Journal GJ1 600.00
31/1/06 Balance c/f 1400.00 31/1/06 Journal GJ1 300.00
______ ______
1400.00 1400.00
______ ______
______ ______
31/1/06 Balance b/f 1400.00
900-Revenue Reserves
Date Details Folio Amount Date Details Folio Amount
31/1/06 Balance c/f

2845.00

 1/1/06 Balance b/f 2845.00
______ ______
2845.00 2845.00
______ ______
______ ______
1/2/06 Balance b/f 2845.00

Now let us prepare a Trial Balance

Trial Balance as at 31/1/2006
Nominal Code Account Description Dr Cr
701 Trade Creditors Control A/c 121.00
201 Parts 100.00
602 Trade Debtors Control A/c 2950.00
101 Sales - Parts 1500.00
102 Sales - Service 1000.00
601 Bank 945.00
713 Net Wages Control 0.00
711 VAT Control 429.00
330 Gross Wages 3000.00
331 Employer PRSI 300.00
712 PAYE/PRSI Control 1400.00
900 Revenue Reserves 2845.00
______ ______
7295.00 7295.00
______ ______
______ ______

From the Trial Balance we can now create our Profit & Loss Statement and Balance Sheet
Profit & Loss Statement
for month ending 31/1/2006
Nominal Code Account Description Dr Cr
101 Sales - Parts 1500.00
102 Sales - Service 1000.00
201 Parts 100.00
330 Gross Wages 3000.00
331 Employer PRSI 300.00
Net Loss for the month 900.00
______ ______
3400.00 3400.00
______ ______
______ ______

Balance Sheet
as at 31/1/2006
601 Bank 945.00
602 Trade Debtors Control A/c 2950.00
701 Trade Creditors Control A/c 121.00
713 Net Wages Control 0.00
711 VAT Control 429.00
712 PAYE/PRSI Control 1400.00
900 Revenue Reserves 2845.00
Net Loss for the month 900.00
______ ______
4795.00 4795.00
______ ______
______ ______

 

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(c) Nilsson Denver Ltd 2007
Last Updated on Sunday, 30 October 2011 21:41
 

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