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Serious How to interpret cash at bank a/c in trial balance?

Bonut

Alfrescian
Loyal
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Does money in the debit column means money that exists in the bank account?

How does one explain money in the credit column as money not in existence ?
 

batman1

Alfrescian
Loyal
Cash at bank A/c DR CR
1-1-11 Balance b/d 5342.50
30-1-11 Cheque payment for purchases,expenses,etc 3265.50
30-1-11 Cash/Cheque received from sales 2514.00
30-1-11 Balance c/d 4591.00
7856.50 7856,50
30-1-11 Balance b/d 4591.00

Note:
DR =Cash/Cheque received from customers and deposited into the bank a/c
CR=Cheque payment from bank a/c to suppliers
 

SNTCK

Alfrescian
Loyal
Credit is money in.debit is withdrawal of money.

if you learn book keeping, double entry. then you know debit is in, credit is out.
eg cash out is credit. credit bank. then debit, could be cost of sales or expenses.

then later b/f go to B/S ( debit side- left side) , if negative cash flow then go B/s (have to minus out)
then expenses go to Profit and loss account.
 

SNTCK

Alfrescian
Loyal
https://www.accountingcoach.com/blog/what-is-the-double-entry-system

The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts (or more). For example, when a company borrows money from its bank, the company's Cash account will increase and its liability account Loans Payable will increase. If a company pays $200 for an advertisement, its Cash account will decrease and its account Advertising Expense will increase.

Double entry also allows for the accounting equation (assets = liabilities + owner's equity) to always be in balance. In our example involving Advertising Expense, the accounting equation remained in balance because expenses cause owner's equity to decrease. In that example, the asset Cash decreased and the owner's capital account within owner's equity also decreased.

A third aspect of double entry is that the amounts entered into the general ledger accounts as debits must be equal to the amounts entered as credits.
 

SNTCK

Alfrescian
Loyal
https://www.accountingcoach.com/blog/what-is-the-double-entry-system

The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts (or more). For example, when a company borrows money from its bank, the company's Cash account will increase and its liability account Loans Payable will increase. If a company pays $200 for an advertisement, its Cash account will decrease and its account Advertising Expense will increase.

Double entry also allows for the accounting equation (assets = liabilities + owner's equity) to always be in balance. In our example involving Advertising Expense, the accounting equation remained in balance because expenses cause owner's equity to decrease. In that example, the asset Cash decreased and the owner's capital account within owner's equity also decreased.

A third aspect of double entry is that the amounts entered into the general ledger accounts as debits must be equal to the amounts entered as credits.
 

frenchbriefs

Alfrescian (Inf)
Asset
it says the Bank a/c has an opening debit statement of $5342.Lets ponder what that means for a second.ok nvm i give up.
 

Bonut

Alfrescian
Loyal
Cash at bank A/c DR CR
1-1-11 Balance b/d 5342.50
30-1-11 Cheque payment for purchases,expenses,etc 3265.50
30-1-11 Cash/Cheque received from sales 2514.00
30-1-11 Balance c/d 4591.00
7856.50 7856,50
30-1-11 Balance b/d 4591.00

Note:
DR =Cash/Cheque received from customers and deposited into the bank a/c
CR=Cheque payment from bank a/c to suppliers

You pulled out everything from the table and reproduced them line by line ?
 
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