Help needed with extended T.B
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hi, does anyone have any tips on remembering what goes where in the extended trial balance ie balance sheet or P&L, i am also having problems with the adjustments column.<BR> <BR>I would be gratefull for all your advice,<BR> <BR>thanks lisa
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Help needed with extended T.B
Hi there,<BR><BR>Its hard to get your head round this and then it suddenly falls in to place. But while you are getting there, try this. DEAD CLIC - as follows:-<BR><BR>D r<BR>E xpenses (P&L)<BR>A ssets (B/S)<BR>D rawings (B/S)<BR><BR>C r<BR>L iabilities (B/S)<BR>Income (P&L)<BR>Capital (B/S)<BR><BR><BR>Hope this helps and good luck.<BR><BR>0 -
Help needed with extended T.B
The way I remember it is very similar to the post above, however I believe every little helps!<BR><BR>DEAR CLIP<BR><BR>DR<BR>D ebtors<BR>E xpenses<BR>A ssets<BR>R oyalties (not applicable at this level)<BR><BR>CR<BR>C reditors<BR>L iabilities<BR>I ncome<BR>P rovision<BR><BR><BR>Best of luck!<BR>Littledoe0 -
Help needed with extended T.B
In terms of whether it would be balance sheet or TPL, you can also use REAL.<BR><BR>R - revenue (TPL)<BR>E - expenses (TPL)<BR><BR>A - assets (B/S)<BR>L - liabilities (B/S)0 -
Help needed with extended T.B
Hi Lisa.<BR><BR>The balance sheet is testing the 'accounting equation' - 'Assets = Liabilities + Capital'. Therefore these items appear on the balance sheet.<BR><BR>Likewise the Trading, Profit & Loss account should reflect your trading activities, so you would have your sales, returns, expenses, etc.<BR><BR>The current years depreciation is an expense and goes in your P & L, the accumulated depreciation is a reduction in the value of the Asset so goes on your B.S.<BR><BR>Scott.0 -
Help needed with extended T.B
hi,thanks to you all for your help , it was all really useful and hopefully help with exam in 2 weeks, thanks lisa<BR>0