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• # 70403
• Sun 24 Apr 2011 05:05 PM

I am just finishing off this assignment and have had no probs whatsoever until I read the bold " bring down the balances at the end of the trading period and list and total the debit and credit balances"  Can someone explain what is required here as it is driving me nuts and preventing me finishing this lesson.
Thanks 

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• # 70405
• Mon 25 Apr 2011 09:22 AM

Hello

All it means is that you balance off the account, and carry forward the balance to the start of the following month
e.g.

                    Dr                                        Motor Expenses                                  Cr
01/01/11     Bank                 100                                    31/01/11        Balance Carried Down 100

01/02/11     Bal carried fwd  100 

The credit "balance carried down"  becoming the debit "balance carried forward"

These balances are then listed as debits or credits in 2 columns in the trial balance which is what it what is meant by listing and totalling the debit and credit balances.  They debit side should equal the credit side otherwise there is an error somewhere.

Hope this helps

Kind regards

Sandra 

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• # 70635
• Fri 06 May 2011 10:27 AM

Hi Heather (hope I guessed correctly) & Sandra,

Well done Sandra, you've obviously ratained the knowledge from this section of your studies.

Heather, see the answers to progress tests 1 & 2 at the back of the lesson to see how each account should be "balanced off". As Sandra said, then list all "brought Down" (b/d) balances and the total of the debit balances should = the total of the Credit balances.

If you still can't get it to balance, give our office a call on the number below and we'll talk you through it.

Good luck.

Kind regards

• Brian McVean
  brian@idealschools.co.uk  
  Course Advisor/Tutor
  Ideal Schools, Glasgow
  0141 248 5200 - 0800 028 1404
  www.idealschools.co.uk  
  
  
  

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• # 70756
• Tue 10 May 2011 06:54 AM

Thanks Sandra, I appreciate your help.  I notice from other posts you are in Bracknell ! I might see you at the CPD Seminar in Reading as i live not too far away in Ascot.  
thanks again
Heather 

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• # 70757
• Tue 10 May 2011 06:56 AM

Thanks Brian,  not sure if I misunderstood what you were actually looking for.  I need to look at the test again this week before moving on so if I have any questions I will give you a call.
Thanks
Heather 

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• # 70762
• Tue 10 May 2011 09:05 AM

hpalmer said:

“Thanks Sandra, I appreciate your help.  I notice from other posts you are in Bracknell ! I might see you at the CPD Seminar in Reading as i live not too far away in Ascot.  
thanks again
Heather ”

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