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Problem with an accounting assignment - First year

dillo2k10 · 2011-11-13 19:20:48

Hi, I am having a problem with my accounting assignment. In my statement of Financial Position Net Assets 78,379 Capital 71344 Add Net Profit 15635 Less Drawings (7800) 79179 I think that The Net Assets (78379) and the Final Number (79179) should be the same. I went over it about 50 times and I cant find where I went…

13-11-2011 08:20PM

#1

dillo2k10

Registered Users, Registered Users 2 Posts: 1,397 ✭✭✭

Join Date: January 2010

Posts: 1133

Hi,
I am having a problem with my accounting assignment. In my statement of Financial Position

Net Assets 78,379

Capital 71344
Add Net Profit 15635
Less Drawings (7800)
79179

I think that The Net Assets (78379) and the Final Number (79179) should be the same. I went over it about 50 times and I cant find where I went wrong. We dont usually have to put in the last four rows but thats just for me to check. Should I put it in to show that I know that there is a problem of should I just pretend that theres no problem.

Thanks

0

Comments

#2 14-11-2011 10:34PM

katewolk

Registered Users, Registered Users 2 Posts: 19 ✭

Join Date: July 2011

Posts: 13

Hi.

You are right it should be the same. You have a mistake somethere in your calculation ( eg. profit, fixed assets, ect.). Check that again. Your difference is 800. Try to work it from that.

0