New User ? Sign Up  |  Sign In  |  Help
Dummy
ask
answer
discover
     
Search for questions :
My Profile
Categories

BruinCPA

Open Question Bookmark and Share

Balance Sheet?


I had to do a project for my accounting class. It is normal for the debits and credits totals on a worksheet for the balance sheet part and the assets and liabilities totals on the balance sheet to be different. My totals are equal on the same form (Dr=Cr and A=L) but different on the balance sheet and worksheet.

Is this right?

538 day(s) ago

    Comment(s) (0)
    Report Abuse
   Find Intereseting  
   E-Mail to Friends  
   Bookmark  
   Subscribe to Answer Alert  
No comments yet !!!     Be the first to comment
Answers (2)

NessaCPA 		It ain't quite right. You need to balance the left side (assets) with right side (liabilities + owners' equity).
The equations is Assets = Liabilities + Owners' Equity.

Posted 538 days ago

( 0 )
( 0 )
    Comment(s) (0)
   Report Abuse
No comments yet !!! Be the first to comment on this answer !!!


ujonesla 		Yes that's OK. Ususally, DR and CRs have to do with making sure the entries are property taken care of in their entiret, but does not necessarily always equal the a/l on the BS. tba

Posted 538 days ago

( 0 )
( 0 )
    Comment(s) (0)
   Report Abuse
No comments yet !!! Be the first to comment on this answer !!!

Edit your answer. Click save, when done.
Question Title Balance Sheet?
Your Answer
  |         |                            
bold  italic  underline  strike       big  small       superscript  subscript 
  Allows to add a link.
Caption :
Link URL :
( Must starts with "http://" )
Add  |   Cancel
  Allow to insert an image. Must be among the following file types - *.jpg, *.gif, *.png & *.bmp.
Image Url :  
( Image url must always starts with " http:// " )
Width : pixels
( Must not be greater than 450px. Enter 0px for no resize )
Add  |   Cancel
  Allow to insert YouTube video. Insert the video embed code.
Embed Code :
Add  |   Cancel
Character Count ( Max. - 5000 ) : 335
Email this question link to friends
You must enter email-address, if name is entered and vice-versa for each friend.
Friend #1 -
Friend #2 -
Friend #3 -
Friend #4 -
Friend #5 -
  Your comment on this question
  |         |                            
bold  italic  underline  strike       big  small       superscript  subscript 
  Allows to add a link.
Caption :
Link URL :
( Must starts with "http://" )
Add  |   Cancel
  Allow to insert an image. Must be among the following file types - *.jpg, *.gif, *.png & *.bmp.
Image Url :  
( Image url must always starts with " http:// " )
Width : pixels
( Must not be greater than 450px. Enter 0px for no resize )
Add  |   Cancel
  Allow to insert YouTube video. Insert the video embed code.
Embed Code :
Add  |   Cancel
Max Allowed : 5000 Characters Current Count : 0
  Your comment on this answer
  |         |                            
bold  italic  underline  strike       big  small       superscript  subscript 
  Allows to add a link.
Caption :
Link URL :
( Must starts with "http://" )
Add  |   Cancel
  Allow to insert an image. Must be among the following file types - *.jpg, *.gif, *.png & *.bmp.
Image Url :  
( Image url must always starts with " http:// " )
Width : pixels
( Must not be greater than 450px. Enter 0px for no resize )
Add  |   Cancel
  Allow to insert YouTube video. Insert the video embed code.
Embed Code :
Add  |   Cancel
Max Allowed : 5000 Characters Current Count : 0