trial balances help !!!!1

susanharvey1961@aol.com

I HAVE BEEN GIVEN A PIECE OF HOMEWORK FOR HALF TERM THAT I AM HAVING TROUBLE WITH.
I HAVE BEEN GIVEN A LIST OF FIGURES TO PUT INTO THE TRIAL BALANCE, MOST OF THEM I AM OK WITH AS TO WHICH SIDE THEY GO ON DEBIT OR CREDIT, I CANT GET IT TO BALANCE I AM PUTTING ALL OF THE BELOW ON THE DEBIT SIDE ADVERTISING 3245, ADMIN EXPENSES 15717, DIS ALLOWED 3468, INSURANCE 4890, MOTOR EXPENSES 12782, PACKAGING COST 2540, PURCHASES 386312, PRINTING AND STATIONARY 1667, RATES 3330, WAGES 50942, BUILDINGS AT COST 120000, VEHICLES AT COST 28000, FIXTURES AND FITTING AT COST 35000, OPENING STOCK 67983, DEBTORS 24000, BANK 4724, INLAND REVENUE 2883, THEN CREDIT SIDE I HAVE BAD DEBTS WRITTEN OFF 2000, DIS RECIEVED 1012, SALES 418451, PROVISION FOR DEPRECIATION BUILDINGS 12000, PROVISION FOR DEPRECIATIONVEHICLES 14000, PROVISION FOR FIXTURES AND FITTINGS DEPRECIATION 10500, PROVISION FOR DOUBTFUL DEBTS 3600, CREDITORS 121165, VAT 8765. I CANT GET IT TO BALANCE CAN ANYONE DO THIS AND MAKE IT BALANCE WITH THOSE FIGURES? I MAY HAVE A COUPLE OF THINGS ON THE WRONG SIDE BUT STILL CANT GET IT TO BALANCE. THANKS SUE:001_wub:

crispy

Hello,

The Inland Revenue should be a credit, and the Bad debts figure w/off should be a debit - all the others look ok. I added this up and still got a difference of £ 548 as a credit balance - sorry if this is not much help, maybe they just want you to open a suspese account? :confused1:

columbia

Hi

I also got a difference of £548, so you will either need to open a suspense account as crispy suggested, or perhaps double check your figures incase you have written one down incorrectly.:001_unsure:

Tracy

laurad

check which side your bank figure is on again (could be a debit or credit balance - you need to refer to the question to check)

VAT is normally a credit balance but i guess they could throw a cheeky question in where it is a debit - again double check that

and bad debt written off is an expense therefore a debit

susanharvey1961@aol.com

trial balance

THANK YOU ALL FOR YOUR HELP I WILL TRY IT AGAIN AND IF I GET THE SAME AS YOU I WILL HAVE TO OPEN A SUSPENSE ACCOUNT. CHEERS EVERYONE FOR TRYING TO HELP.:001_smile: