[accounting10]

No information was give as to what the owner capital was. I did have a owner withdrawal but I am know doing the worksheet and can't figure this out help!
Trial Balance
Account Debit Credit
Cash 135,911
Accounts receivable 18,200
Merchandise inventory 189,519
Office supplies 0
Store supplies 0
Prepaid insurance 2,765
Office equipment 25,690
Accum. Depr. office equip. 10,227
Store equipment 38,920
Accum. Depr. store equip. 18,123
Accounts payable 53,059
J. Colo, Capital
J. Colo, Withdrawals 7,000
Sales 0
Sales discounts 0
Sales returns and allowances 0
Cost of goods sold 0
Depr. Expense, office equip. 0
Depr. Expense, store equip. 0
Office salaries expense 0
Sales salaries expense 0
Insurance expense 0
Rent exp. office space 0
Rent exp. selling space 0
Office supplies expense 0
Store supplies expense 0
Utilities expense 0
Totals

[morgaine300]

There's really insufficient information because what you're describing cannot be the case. If you were to the worksheet you would have balances in all those revenues and expenses.

My suspicions are that you are not to a worksheet, but that rather this is balances being carried over from a prior period, which contains a missing number. All you have to do is total the two columns, which should be equal, and find out how much is missing in the credit column.

[accounting10]

There's really insufficient information because what you're describing cannot be the case. If you were to the worksheet you would have balances in all those revenues and expenses.

My suspicions are that you are not to a worksheet, but that rather this is balances being carried over from a prior period, which contains a missing number. All you have to do is total the two columns, which should be equal, and find out how much is missing in the credit column.

Okay this is what was on the worksheet unadjusted trial balance as I begin to start I on the general ledger the balance from the previous month was 308085. On the ledger I was to make posts from the General journal income summary section but I can't even began to explain how to do that either. Any suggestions

[morgaine300]

I can't make any sense of what you're doing. An unadjusted trial balance on a worksheet would have revenues and expenses on it. An unadjusted trial balance is done at the end of an accounting period, after all regular entries have been made (meaning those revenue & expense accounts would have balances in them), but before adjusting entries are done.

So that is absolutely NOT an unadjusted trial balance.

After closing is done, then you would end up with something that looks like what you have. That is after all the adjustments are done, financial statements, etc. -- all the period-end processes that go on. Then everything is closed out and it looks like your trial balance. That is then carried into the next month as a beginning trial balance. That isn't the same as an "unadjusted" trial balance.

Posting is posting is posting. Posting an income summary entry is no different than posting anything else. I don't see how you can be posting an income summary entry when your trial balance has nothing in it to even close. It looks like one that has already been posted. That is, it's reflecting a closing that's already been done, which cannot be the case if you haven't posted the closing entries yet. So that makes no sense.

If you just total the debit & credit columns like I said in the other post, you will find the missing number is 389,655. That does not match the 308,085 from the previous month. This means that your trial balance there CANNOT be carried over from the previous month. That, however, means that it's not a beginning trial balance for this month. Or that the 308,085 is not correct and I really don't know where you got that from.

So in the end, I have no idea what you are trying to do. Nothing meshes, and what you're saying and what you're showing me don't match up.

[accounting10]

Geez I guess I am so overwhelmed by this problem. Do you have any email address that I could send the information as it appears in the spreadsheet. I don't know what I am doing here and I need some kind of help to gauge me in figuring this out. The excel spreadsheet won't fit on this page and it would just be better for me to send you the information if you are willing, since you seem pretty knowledgeable.

[morgaine300]

You can attach the Excel spreadsheet. Click on the "go advanced" button. I don't give out my email.