Help with Unit 11 Example Exam Question

knowlesak

my tutor at college has give us an example exam question for unit 11 and i cant get my balance sheet to balance can anyone help??

Trial Balance
Admin Expenses 3,185
Bank 420
Debenture 2,100
Debenture Interest 105
Distribution Expenses 727
Retained Earnings Reserve 3,955
Purchases 10,493
Revaluation Reserve 1,365
Sales 16,100
Share Capital 840
Opening Stock 4,515
Property/Plant & Equipment NBV 5,852
Trade Payables 3,675
Trade Receivables 3,578
Closing Stock 5,292
Accrued Tax 280

i get a profit after tax of 2,087
Net Assets of 9,087
Equity of 8,247
which means i am out by 840 which is the share capital, is this a coincidence or am i missing something?? can anybody help?/

Gem7321

It could also be your bank on the wrong side, is it overdrawn or does it have money in it?

knowlesak

i knew it would be something silly like that, yes the balance in the bank is on the credit side of the trial balance which means its overdrawn! thanks for spotting it!! i cant believe i didnt think of that.