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Accounting is easy right? Just debits and credits, and the debits must always equal credits. This challenge is to implement a basic accounting system, that can perform at least three unique accounting entries and produce a trial balance. Each time an entry is recorded, it should validate the entry balances to 0, then print the details of the entry, and then the current trial balance after the effect of the entry.
Here are some example accounting entries and a CSV trial balance output after each entry:
Entry 0:
Put $500 of capital contribution into company
Debit Cash 500
Credit Paid-In-Capital 500
Accounting is easy right? Just debits and credits, and the debits must always equal credits. This challenge is to implement a basic accounting system, that can perform at least three unique accounting entries and produce a trial balance. Each time an entry is recorded, it should validate the entry balances to 0, then print the details of the entry, and then the current trial balance after the effect of the entry.
Here are some example accounting entries and a CSV trial balance output after each entry:
Entry 0:
Put $500 of capital contribution into company
Debit Cash 500
Credit Paid-In-Capital 500
Trial Balance:
Account, Balance
Cash, 500
Paid-In-Capital, -500
Entry 1 - Receive an invoice for supplies received.
Debit Supplies Expense 100
Credit Accounts Payable -100
Trial Balance:
Account, Balance
Cash, 500
Accounts Payable, -100
Paid-In-Capital, -500
Supplies Expense, 100
Entry 2 - payment of accounts payable
Debit Accounts Payable 100
Credit Cash 100
Trial Balance:
Account, Balance
Cash, 400
Accounts Payable, 0
Paid-In-Capital, -500
Supplies Expense, 100
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