Library

Ledger Lighthouse

Level 1 of 10 · Post entries to the correct side of each account and total the trial balance.

Three lighthouses

The owner puts in $1,000 and the business pays $200 of rent.

Boat waiting at the entrance

Bank · debit

$1,000

Owner contribution received

4 boats still waiting.

Bank

asset · normally increases with a debit

Balance $0

Owner capital

equity · normally increases with a credit

Balance $0

Rent expense

expense · normally increases with a debit

Balance $0

Amounts are in New Zealand dollars; GST and income tax are excluded.