Question

Why is this not balanced?

Why does it not balance? Journal DATE PARTICULARS | DEBIT || CREDIT Ledger Accounts Receivable Jan. Bank Bank 4 500 195 63 4500 3600 - Equipment Capital 100 38 81 0 0 4 695 4510 185 3 Supplies Accounts Payable Supplies Equipment 3 600 38 6 Expense Bank (111 Accounts Payable Capital 10 Bank 8 100 Revenue 95 - 14100 Revenue 15 Drawings Bank Drawings 100 19 Accounts Receivable Revenue Expense 24 Supplies Bank Trial Balance DR CR 4 510 73 8 100 111 222 3 600 63 100 escription of the error and how you found it: 8 431

Answer 1

I have found the error,

In the journal entry which is

Bank a/c dr 195

Revenue a/c 195

For the above entry you have posted wrong amount in the bank a/c ledger actually it is 195 but you have posted 159 in the bank a/c ledger.

So by rectifying the above discrepency your trial balance will tally.

In trial balance the difference is 36 $ and the difference is due to (195-159)= 36 $

I think you got the answer.

Thank you.