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meranaam21 · Mar 9, 2009, 10:02 AM

Can someone help me to balance this, I am messing up somewhere and its not ballancing

So please separate by Debits And Credits

Account Payable 7650
Accounts Receivable 5325
Automobiles 9200
Buildings 150000
Capital Stock 100000
Cash 10500
Commissions Expenses 2600
Commissions Revenue 12750
Dividends 2000
Equipment 85000
Heat, Light, And Water Expense 1400
Income Tax Expense 1700
Income Tax Payable 2500
Interest Revenue 1300
Land 50000
Notes payable 90000
Office Salaries Expense 6000
Office Supplies 500

It should balance out to 110,025

I want to know, which ones are credits and which ones are debits

codyman144 · Mar 9, 2009, 11:13 AM

Tell me which ones you think are credit and which you think are debts and maybe I can help.

derenda · Mar 12, 2009, 03:37 PM

For one every expense is put under debit and payables is put under credit supplies, equipment, cash are debit reveune, capital are credit I hope this helps you

pready · Mar 17, 2009, 03:26 PM

With the information you have provided your trial balance will not balance. You need to double check your account balances.

You should do this problem in Excel. If you need to know what a trial balance should look like see one of my previous posts. I did one has an attachment.