pre-adjustment trial balance

[Syncness]

I believe so. It was for 5 months as it (loan) was taken out on the 31st

If you wrote that, which of course you didn't, you would've lost the mark completely.

It didn't say anything about the loan and the van together, the loan was a cash loan for 50k, and the Van was just 20k.

It's 5 months because the business commenced at the 1st of Feb.

[Akirus]

I believe so. It was for 5 months as it (loan) was taken out on the 31st

If you wrote that, which of course you didn't, you would've lost the mark completely.

It didn't say anything about the loan and the van together, the loan was a cash loan for 50k, and the Van was just 20k.

It's 5 months because the business commenced at the 1st of Feb.

Wrong. The business commenced on Jan 1. The loan was taken out on the 31st Jan.

[mojomojo]

For the first page, what should the amount of the GST Clearing asset be? 3500? or do we have to include the GST from Accrued?

[mba]

No you don't include the GST from accrued as it has not yet been paid or invoiced. Therefore I'm 99% sure it is just $3500.

[Akirus]

No you don't include the GST from accrued as it has not yet been paid or invoiced. Therefore I'm 99% sure it is just $3500.

I agree. No tax invoice has been issued, the balance is $3500 DR.