MGT101

[Misbah Yousuf]

Please  find attachment and let me know where I went wrong. My balance sheet is not balanced. 

I have assembled all statements in this file. 

thanks

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Regards, 

Misbah Yousuf

[Banjara]

Please mention the date you are required to make the Balance Sheet on ? coz there is capital date mentioned and Note payable and Insurance have also got a date.

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Regards

No-Body

[Misbah Yousuf]

 Balance sheet for year ending December 31, 2010 

Regards, 

Misbah Yousuf

[Banjara]

Please correct the date of notes payable its 6/30/15 in your file. if its payable in 30-june-2015 then I think it will not be considered in current year

[Misbah Yousuf]

No bro ,it is long term liability. It will be included under the head "Long Term Liabilities".  

I think, I am calculating insurance expense or prepaid insurance incorrectly. Difference is of  2- 4K only.

[Banjara]

Yep difference is of 2k only

[Misbah Yousuf]

Thank you banjara bro for your  time and effort.

I got my mistake and corrected now.

1 - I was adding interest payable in income statement which should not be added. Its balance sheet item

2- I was subtracting supplies expense from supplies. Which was not to subtract. 

Now, Balance sheet is balanced. Find updated file in attachment.

[Banjara]

Actually I did nothing except reading that file 3 4 times :) Great Work . Keep it up