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    123rogue123's Avatar
    123rogue123 Posts: 3, Reputation: 1
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    #1

    Mar 23, 2009, 11:06 PM
    Work out the Capital and Prepare a Trial Balance
    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
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Mar 24, 2009, 02:50 AM

    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!
    123rogue123's Avatar
    123rogue123 Posts: 3, Reputation: 1
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    #3

    Mar 24, 2009, 05:55 PM
    Quote Originally Posted by ROLCAM View Post
    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?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #4

    Mar 24, 2009, 09:26 PM

    The difference between the total assets and
    The total liabilities will give you the Capital figure.
    123rogue123's Avatar
    123rogue123 Posts: 3, Reputation: 1
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    #5

    Mar 24, 2009, 10:47 PM
    Quote Originally Posted by ROLCAM View Post
    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?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #6

    Mar 25, 2009, 01:14 AM

    123rogue123,

    YES, that is the whole idea.

    Rolcam
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