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October 23, 2025, 07:14:41 am
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Author Topic: insight 2010 2.2.2  (Read 772 times)  Share 

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LFTM

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insight 2010 2.2.2
« on: June 05, 2010, 11:27:54 am »
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How come the answers have theopening balance of the capital account at june 30? I put the opening balance dats as 1 july
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mmmmm

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Re: insight 2010 2.2.2
« Reply #1 on: June 05, 2010, 12:17:34 pm »
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I pretty sure the answers are wrong.  I've got June 1 aswell..
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davyp3

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Re: insight 2010 2.2.2
« Reply #2 on: June 05, 2010, 12:21:38 pm »
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I THINK it is because

before you do the trial balance, you balance the capital account which is transfered to the trial balance, and hence it takes in account any contributions so it would be 30june

please confirm with someone else
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LFTM

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Re: insight 2010 2.2.2
« Reply #3 on: June 05, 2010, 12:42:48 pm »
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Quote from: davyp3 on June 05, 2010, 12:21:38 pm
I THINK it is because

before you do the trial balance, you balance the capital account which is transfered to the trial balance, and hence it takes in account any contributions so it would be 30june

please confirm with someone else

yeah thats what i thought too, because its a post adjustment trial balance. Is this what you mean?
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davyp3

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Re: insight 2010 2.2.2
« Reply #4 on: June 05, 2010, 01:01:20 pm »
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yes, precisely
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