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-   -   How can I create a balance sheet from a trial balance? (https://www.askmehelpdesk.com/showthread.php?t=778309)

  • Dec 10, 2013, 02:36 PM
    DORIGINALBOSS
    How can I create a balance sheet from a trial balance?
    My trial balance:

    capital 100,000
    sales 294,898.75
    purchases 68,227.92
    salary 84000
    utilities 16,200
    insurance(for the year) 1500
    Business License(for year) 300
    advertising 3000
    motor vehicle expense 7800
    rent 18000
    packaging 12,975.60
    vehicle 65000
    furniture 1030.00
    utensils 419
    appliances 450
    cooling equipment 9000
    electronics 4300
    fixtures and fittings 650
    carriage 3200
    cash 98,846.22


    the total of all fixed assets dep by 15%, which by my calculations = 12,127.35

    how do I create a balance sheet whit this info?
  • Dec 10, 2013, 09:00 PM
    pready
    1 Attachment(s)
    Use a worksheet for this problem, preferably in Excel. You will set up your columns for account names, trial balance, adjustments, adjusted trial balance, income statement and balance sheet. I have attached a sample worksheet so you can see the format of one.

    From your adjusted trial balance you will carry your balances to either the income statement or the balance sheet. Your income statement will not be in balance and the difference will be net income which will carry to the balance sheet.
  • Dec 11, 2013, 10:15 AM
    DORIGINALBOSS
    Thanks

    But I will like assistance in to which heading they will fill in the balance sheet?

    Whether it be fixed asset, current asset or current liability?
  • Dec 11, 2013, 11:53 AM
    DORIGINALBOSS
    When I did it, its off by a little over $2000.

    Need help!!

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