[kristastgermain]

Hi! I have an assignment due tomorrow and am really fustrated I've been working on it since last month and can not figure out where I went wrong I am 52,000 and some odd hundred dollars off on my debits and credits! :eek: if anyone wants to help email me at [email protected]

[pready]

First I would check my transactions to make sure they were posted in the right accounts has a debit or credit. Then check your math.

Rember a debit to an Expense, Asset, and Dividend accounts increase the balance in these accounts, while a credit increases Revenues, Unearned Revenues, Liabilities, and Equity accounts.
A Credit to an Expense, Asset, and Dividend Accounts decrease the balance in these accounts. Debits decrease Revenues, Unearned Revenues, Liabilities, and Equity Accounts.

Use Excel if possible, or create T-accounts for your accounts and post your transactions to your T-accounts. Then after your all your transactions, get your ending balances of your T-accounts, then use Excel to create your Trial Balance.

For example in the Cash account add your Debits to get the sum of your Debits and add your Credits to get the sum of your Credits, then subtract your Credit sum from your Debit ssum to get your ending Cash Balance. Do this for all of your T-accounts. Some Accounts you will subtract your Debits from your Credits.

You need to know what accounts have a normal Debit Balance and which ones have a normal Credit balance.