Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance & Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=411)
-   -   Trial and Balance (https://www.askmehelpdesk.com/showthread.php?t=326902)

  • Mar 9, 2009, 10:02 AM
    meranaam21
    Trial and Balance
    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
  • Mar 9, 2009, 11:13 AM
    codyman144

    Tell me which ones you think are credit and which you think are debts and maybe I can help.
  • Mar 12, 2009, 03:37 PM
    derenda

    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
  • Mar 17, 2009, 03:26 PM
    pready

    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.

  • All times are GMT -7. The time now is 01:42 AM.