Help. I need to answer the following question. I have tried and tried but when I fill our the Trial Balance it just doesn't seem to balance?

8. Calculate the Capital Balance and prepare a Trial Balance in chart of accounts order from the figures given:

Advertising $3,200
Capital $
Cash at Bank $9,850
Accounts Payable $7,000
Accounts Receivable $12,250
Drawings $27,500
Electricity and Telephone $1,500
Furniture and Fittings $4,600
Interest Income $1,200
Motor Vehicle Expenses $3,200
Motor Vehicles $32,000
Rent $12,000
Service Revenue $97,500
Stationary and Postage $1,030
Wages $42,400
GST Collected $14,750
GST Paid $9,530

You try and do it.
The whole idea is for you to calculate the Capital Account.
Then the Trial Balance will balance.
HAVE A GO!

Quote:

---

Originally Posted by ROLCAM

You try and do it.
The whole idea is for you to calculate the Capital Account.
Then the Trial Balance will balance.
HAVE A GO !!

---

But how do I work out the Capital?

The difference between the total assets and
The total liabilities will give you the Capital figure.

Quote:

---

Originally Posted by ROLCAM

The difference between the total assets and
the total liabilities will give you the Capital figure.

---

OK so should I do a balance sheet listing all the Assets and the Liabilities then that should give me the Capital?

123rogue123,

YES, that is the whole idea.

Rolcam