Final Accounts - Practice exam help

steph0123

I'm doing a pratice exam for final accounts and I've been given the below information for a sole trader and have to work out assets liabilites and capital.

Office equipment 13800
Inventory 5850
Bank (debit balance on bank statement) 190
Trade payables 5370

answers
Assets 19650
Liabilites 5560
Capital 14090

However I'm confused why the bank has been included in the liabilities and not assets when it a debit balance? Isn't debit balance bank asset and credit liability?

CSan89

They use debit balance as on the bank statement rather than your T account. Pesky AAT trying to catch you out.