Financial records and accounts question query

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Accruals and Prepayments; ex. 6.5<BR>I am having a problem getting the balance sheet part of ETB to balance.<BR>So far i'm £540 out Dr side.<BR>I would like to know if there is an error withing the trial balance in the work book; ie is the bank balance actually an overdraft?<BR><BR>frustrated newbie :0)

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    What page are you looking at in the workbook? Are you using the Unit 5 study text? Can't see example you mean in Chapter 7 or in the Key techniques questions. Let me know and I'll have a go!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    which book are you using?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    The book is; Financial Records and Accounts, for NVQ Accounting Unit 5<BR>the page is 28, exercise 6.5<BR><BR>Thanks for the replies guys. :0)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    oops... in the work book!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    Sorry - can't have a go after all. I'm using the Foulks Lynch Study Text and Workbook! Hope you manage to find your missing £540! If you want to email me the question would be willing to have a go at it. (I'm sure it would do me good!) and could see if I agree with you.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    Awww, well thanks for asking anyway Sparky.<BR>And I just might take you up on that offer if nothing prevails over the next couple of days.<BR>:0)
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    HI<BR><BR>If the excercise you are doing is Cindy Hayward, there is not an error in the trial balance the BANK amount is a £540.00 DR balance. Are you sure the problem is within you balance sheet part of the ETB and not the P&L. <BR><BR>The balance on the P&L should be £220,955 giving you a net profit of £21,863<BR><BR>The Balance on the B/S should be £114,245.<BR><BR>Hope this helps.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Financial records and accounts question query

    Thank you terija!!!!!!<BR>It helped a lot , thanks.<BR>Was the smallest of mistakes and its proved to be a massive pain in the bum.<BR><BR>:0)

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