Extended trial balance (quick question) help pls

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:31AM in AAT student discussion
Hey all,

Im doing the extended trial balance from the workbook and am stuck where to put one figure.

Does the Office equipment figure go to the P&L account or Balance sheet???


Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Extended trial balance (quick question) help pls

    Hi

    It is an asset so therefore a debit on the balance sheet.

    Tracy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Extended trial balance (quick question) help pls

    Not necessarily. Depends on the company's capitilisation policy. If its only a minimal amount is will probably be written off to the P&L
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Extended trial balance (quick question) help pls

    Thanks Tracy

    Much appreciated

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