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lyns


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Extended Trial Balance Wont Balance in P& and Balance column help!!!!l
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biggrin Hi all im a new user to this website and its great to be able to have others who can point me in the right direction, Im hoping to get some much needed help as im so stuck on my extended trial balance, which wont add up in the p&l or Balance. I have attched the Extended Trial Balance and the Journal adjustments made and i just want help to see where i have gone wrong. Much thanks for any replies as ive been spending hours trying to work it out and am exhausted and frustrated now. confuse Waiting in anticipation  Lyns.



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journal.ods (12.9 kb)
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lynda norris
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The vast majority of your difference is the profit figure which needs transferring across on line 34 to the balance sheet.


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Nick

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Helz


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And the rest is on line 18, premises exp.

Good luck!!

Helen

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lyns


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Hi Nick,

When i transfer the total for profit and loss after deducting dr from cr in the column and add to cr on the balance it,s £150 out any ideas?

Thanks


Lyns

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lynda norris
lyns


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Hi Helen,

Not sure what you mean by the rest is premises. I have deducted the p & l cr from dr and taken the total over to the cr in balance and im out by £150?? Help  Lyns

 



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lynda norris
Helz


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There's an error in that line - you have a dr of £2088, a dr of £300 and a cr of £375 and you've made a net dr of £2163, which is incorrect by £150. You need to correct that figure, then correct the P&L figure as that will change, and it will all balance.

Helen

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lyns


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Hi Helen

 

Thats the £150 ive been searching for. Oh my goodness i cant believe i did that what a wally adding and subtracting the wrong way round. Your a star helen and i appreciate your help so much i can rest easy now i can see what was wrong. Phew!!!! if it wasnt a school night i,d have a drink Lol!!!!  unfortunatley i have work tomorrow. Thanks again.biggrin 

Lyns ( a very happy student)   



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lynda norris
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Thanks Helen, I knew it was still £150 out, but didn't have time to look for it!

Lynda, happens to us all, you can spend ages looking for differences that are staring you in the face. Have a drink anyway!

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Nick

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lyns


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Thanks Nick, If i have one drink it could lead to another and i cant go there tonight as i need to return to work tomorrow cause ive been off ill for 2 days with flu.... I just cant stop studying even when ill. Sad really but true!!!  Still the weekend looms hope it,s sunny.

 

Cheers everyone



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lynda norris
Helz


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No probs - as Nick says, happens to us all at some time and it gets to a stage of the more you look the less you see!!

Good luck with the studying

Helen

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