A roaster's month of transactions, journalized, posted and tied to a trial balance, makes up this GB518 Unit 2 journal entry set, with a note on its blind spots. Searches like "gb 518 unit 2 assignment example", "gb518 unit 2 sample" and "gb518 unit 2 example" land here.
What a finished GB518 Unit 2 journal entry set looks like
Three exhibits carry the set. The first is a general journal of about a dozen entries: green coffee bought on credit, a wholesale shipment billed to a cafe group, a term loan drawn, roasting equipment financed partly with the loan, payroll paid, a customer deposit received for a holiday order. Each entry carries a brief narration and a tag naming the financial statement its accounts will land on. The second exhibit is a set of T accounts with running balances, each posting cross-referenced to its entry. The third is an unadjusted trial balance in chart-of-accounts order, with debit and credit totals equal. A half-page memo follows, addressed to the roaster's owner, explaining what the equal totals prove and naming two kinds of error they would never reveal.
How a GB518 Unit 2 example is structured
The set is ordered as the accounting cycle runs, journal to ledger to trial balance, because each exhibit is built from the one before and a grader traces figures across them. Within the journal, the statement tag sits beside each entry so a reader sees the destination of every account before the statements exist. The customer deposit is recorded as a liability, unearned revenue, with a narration explaining why cash received is not yet income; that entry is frequently the one the exercise exists to test. T accounts are grouped by statement rather than alphabetically, balance sheet accounts first. The trial balance mirrors the chart's order. The closing memo shifts register from bookkeeping to management, explaining that a transaction posted to the wrong account or omitted entirely leaves totals balanced and the statements wrong.
Statement tag on each entry
Beside every entry, a short tag reads balance sheet, income statement or both. For a manager new to debits and credits, the tag connects an abstract entry to the report it will eventually change.
A deposit that is not revenue
The cafe group's advance for a holiday blend is credited to unearned revenue. The narration explains that the roaster owes coffee, not yet profit, until the order ships.
T accounts grouped by statement
Cash, receivables, inventory, equipment, payables, the loan and unearned revenue come first; revenue and expense accounts follow. Each posting carries the entry number it came from.
A trial balance that ties
Accounts appear in chart order with balances in the proper column, and the equal totals sit on a double-ruled line at the foot of each column.
What equal totals cannot prove
The memo names two errors a trial balance misses, a shipment billed to the wrong customer and an invoice never recorded, and suggests the review a manager could ask for each month.
Where marks go in GB518 Unit 2
Reversed debits and credits remain the largest single source of lost credit, and because the set flows into a trial balance, one reversal can appear three times. Recording the customer deposit as revenue is the error this unit's prompts are often built to catch. Posting slips, a balance carried to the wrong column or a T account total miscounted, cost smaller amounts, as do missing narrations. For MBA work the rubric frequently adds a row for explanation, and a set that balances without any comment on what the trial balance means earns the mechanics and loses that row. Account titles invented instead of drawn from the provided chart lose points, and a trial balance with unequal totals and no note on the search for the difference loses more than the error itself would.
Get a GB518 Unit 2 example written to your instructions
Built from the transaction list and chart of accounts your GB518 section hands out for Unit 2, plus its instructions and rubric, a custom set covers journal, ledger and trial balance, with a statement tag on each entry and a short note for the owner included. Turnaround is 24 to 48 hours. Your first sample carries no fee.
GB518 Unit 2 questions, answered
Do I need T accounts if the prompt only asks for journal entries and a trial balance?
Not always, but they are the evidence that posting happened. Many GB518 sections accept a ledger in either T or columnar form, and a few skip it. When the prompt is silent, the roaster set includes T accounts because they let a grader find where a trial balance difference came from, which protects partial credit.
Why is a customer deposit a liability?
Because the business owes something in return, either the goods or a refund. Revenue is earned when the product or service is delivered, not when cash arrives. Until the holiday order ships, the roaster holds the cafe's money on its behalf. Recording the deposit as revenue overstates income for the month, an error marked often in this unit.
What should I do if my trial balance does not balance?
Look for the difference systematically: re-add both columns, check whether the gap is divisible by nine, which suggests a transposition, and confirm that each posting went to the right side. A finished example that balanced on the first pass still explains the check. If yours cannot be fixed before submission, a note showing the search usually earns more than silence.