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April 24, 2024, 06:12:23 am
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Author Topic: Balance sheet help  (Read 1786 times)  Share 

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danfer073

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Balance sheet help
« on: June 06, 2016, 10:18:18 pm »
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Please explain how they got 2094 as bank balance in current assets as I was only getting 2000
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One Step at a Time

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Re: Balance sheet help
« Reply #1 on: June 06, 2016, 10:33:46 pm »
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Hi there!  ;D

$2000 (opening balance) - $1540 (office furniture + GST) - $506 (graphic design supplies + GST) + $5000 (from parents) - $2860 (printer + GST) = $2094

Hope that helps!  :)
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The Usual Student

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Re: Balance sheet help
« Reply #2 on: June 06, 2016, 10:38:28 pm »
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Yeah ONE STEP beat me to it,
remember that you need to adjust the bank account for the transactions that occurred. So you can't just take it at face value. :)
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One Step at a Time

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Re: Balance sheet help
« Reply #3 on: June 06, 2016, 10:42:37 pm »
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There we go- I think The Usual Student picked up where the calculations must have gone wrong  :D

Good pick up! I was wondering where danfer073 got $2000 from! (What can I say... I'm very perceptive  :P)
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Cranium002

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Re: Balance sheet help
« Reply #4 on: March 05, 2017, 12:04:57 pm »
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$2000 - $1400 -$ 140 - $460 - $46 + $5000 - $2860 ='$2094

You will have to minus GST from Bank, as GST Owed in liability will also decrease.
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