Veeky Forumsnessmen, specifically accountants

Illusionz
Illusionz

Veeky Forumsnessmen, specifically accountants.

I need help, I'm doing homework and have no idea why my assets arent equaling my liabilities and equity. ive been stuck on this project for over 8 hours and its due in an hour and 40 minutes.

What do?

Spazyfool
Spazyfool

You are a fucking dumbass

Garbage Can Lid
Garbage Can Lid

thanks faggot, now help me with my fucking homework.

Boy_vs_Girl
Boy_vs_Girl

Just fudge the numbers. You are an accountant for fucks sake, make it fucking make sense and have the numbers add together or go fucking find another job. Add a line in about 'goodwill' or something for assets

girlDog
girlDog

Post some pics

farquit
farquit

Post your B/S and your ledger(s) and we can help you.

lostmypassword
lostmypassword

This might take a while. Fuck.

Techpill
Techpill

By the way, I am the op, my computer is just too shitty to screenshot.

PackManBrainlure
PackManBrainlure

Bump, good luck OP

If you are able to help with this, you should. I'm sure OP has learned his lesson and would be forever grateful

Evilember
Evilember

astronaut casts two shadows

Binary star system confirmed.

ZeroReborn
ZeroReborn

bump

Stupidasole
Stupidasole

Look closer at your assets side of B/S. It looks like you've overstated them slightly. Should be easy enough to find out where, just run back through the math one time.

Spazyfool
Spazyfool

is it equipment?

Dreamworx
Dreamworx

i feel like its either equipment or cash.

Booteefool
Booteefool

Is the space photo a reference to Astronaut Accountants from Outer Space?

Sir_Gallonhead
Sir_Gallonhead

The ending cash balance says 2160 here twice, yet on your t account on the this pic:
it says cash is 2080.

Spamalot
Spamalot

Also this is obviously a screw up with interest payable.

girlDog
girlDog

but i paid the intrest and payable on the loan, i thought that was a debit.

haveahappyday
haveahappyday

also we're closer but it still doesn't equal.

Methshot
Methshot

so that guy was right, my interest was off. well i guess thats that. i got a b on it(shit was online). take care guys.

Evilember
Evilember

Call me stupid (haven't looked at T accounts or even transactions like this for years)...

But in the June 30 transaction, why is there an interest payable amount of 80? Shouldn't it just be an interest expense of $120, given 8k * 1.5% being the 3 months worth of 6% p.a =$120?

I only go this way because it's the only thing that fits imo.

IIRC it's not so much that the interest itself is a liability, but it gives rise to an expense in that a/c.

TurtleCat
TurtleCat

you're correct, i fucked up and put 80 in. on the cash flows i thought it was just the expense, rather than that and interest payable.

Playboyize
Playboyize

radical

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