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    makeroom4more's Avatar
    makeroom4more Posts: 4, Reputation: 1
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    #1

    Jan 26, 2009, 03:22 PM
    Trial Balance in balance - but Fianancial Statements is not matching
    Hi...
    I have a question
    My Trial Balance is "in balance" all matched up nice nice...

    But - when transferring the information on to the Fiancial Statements its not matching - This is a question for home work the CRUNCHER is... no back up provided in the question no journals no ledger...

    Not exactly sure how to answer or work on this question??

    This question is designed to not match up - it is to find the error - do I take the difference from the bottomline Trial Balance = 658,740 and the Eg. Balance Sheet 605,850 = 52890 and /divide it by 9 to find perhaps a slide transaction error - switching...

    The Balance Sheet also matches up to the answer provided in the exercise...

    Thanks to anyone with suggestions
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jan 26, 2009, 03:27 PM

    Your Income statement will have a difference between Revenues and Expenses. This is Net Income, which transfers to the Balance Sheet as Retained Earnings.
    makeroom4more's Avatar
    makeroom4more Posts: 4, Reputation: 1
    New Member
    		  
    #3

    Jan 26, 2009, 03:32 PM

    OK - I think I understand
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