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Please could someone tell me what I’m doing wrong. After making the adjustments on chapter 11 example 10 I get the below.
PPE – 17,000
GW – 600
Inv – 6,400
Rcv – 9,000
Bank – 3,500
37,000Equity – 11,000
RE – 16,200
NCI – 4,800Liabilities – 6,000
38,000I would need more context to be able to determine what adjustments you are referring to and what calculation you are attempting to make. However, based on the information you have provided, I can see that the total of your assets is 37,000, and the total of your liabilities and equity is 38,000. This implies that your balance sheet does not balance and there is a difference of 1,000.
To identify the error, you need to carefully review the adjustments you have made and ensure that they have been correctly reflected in the financial statements. Check that you have not omitted any figures or made any errors in calculation or data entry. Once you have identified the error, you can make the necessary adjustments to ensure that the balance sheet balances. For more information visit Exams4sure.
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