EXAM assignment: Trial Balance, Stat. of Financial Positions, Cash Flow. HELP needed

UK Discussion in 'Exams and Studying' started by kpedufi, Dec 14, 2016.

  1. kpedufi


    Dec 14, 2016
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    Hey Guys

    I am currently doing a 48h exam assignment. With a given trial balance and adjusting entries we have to:
    - adjust the trial balance
    - create a statement of financial positions
    create a cash flow statement

    I already worked on these in an excel sheet (enclosed as snapshots).
    I feel safe about the trial balance but the numbers on the stat. of financial positions just don't add up. Debit and Credit are off and I have been desperately trying to alter the numbers in order to get a correct balance. Stat. of cash flow therefore can also be not correct.

    Could you have a look and see where the error is in each case?
    It would be greatly appreciated!!

    Attached Files:

    kpedufi, Dec 14, 2016
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  2. kpedufi

    Triest123 VIP Member

    Feb 12, 2012
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    I think you've made mistakes in the adjusted entries, I can't figure it out unless you post the trial balance
    given by the queston.
    Also I can't fully see item 3, 4, 8 & 9 as shown on your trial balance.PNG
    Triest123, Dec 15, 2016
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  3. kpedufi

    Radek Výtisk

    Dec 19, 2016
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    Well, the obvious answer to why your balance sheet does not balance is that you are missing current profit/loss for each year in the equity, you just have the opening balance of 10,700 at beginning of 2015 and dividend paid, but no profit/loss for 2015. Same for 2016.
    Radek Výtisk, Dec 21, 2016
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