Adjusting Trial balance is not balancing .. but balance sheet balances ???

Question

Adjusting Trial balance is not balancing. . but my balance sheet is balances.. any tips on what comon causes for this could be?? ive been going over and over it for like 30 minutes and i cant figure it out!!

I know i did all that still NOTHING!!!

Answer 1

Take a break, come back to it later and it'll appear. You've looked at it for too long and you'll never see it until you walk away and clear your head.

You never know, when you return it might be obvious.

Good luck

Answer 2

You've got something in the wrong category or you're omitting an item from one sheet to the other. Take the difference between the two results and divide by two. That number will probably show you what item is listed incorrectly.

The reason that you divide by two is the same as if you added instead of subtracting. A 100 plus and a 100 minus is a difference of 200. Dividing by two gives you 100. That shows you where the mistake was made.

Answer 3

For wages payable, the other side of the entry would be Salary Expense and the other side of the entry for Accumulated Depreciation would be Depreciation Expense and other side of the entry for Prepaid Insurance would be Insurance Expense. That is how each of these balance sheet accounts affect the income statement. DB: Salary Expense CR: Wages Payable DB: Depreciation Expense CR: Accumulated Depreciation DB: Insurance Expense CR: Prepaid Insurance (this is done when the insurance is placed into service. Usually amortized over a 12 month period so each month you have to do this entry to account for the portion placed in service) DB: Prepaid Insurance CR: Cash (this is done when you have paid for the insurance)

Answer 4

Are you in Excel? Triple check your formulas.....make sure your adjusted balances all have an entry -