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Math Help - Balancing debits=credits (the expanded ledger/ACCOUNTING)

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    Balancing debits=credits (the expanded ledger/ACCOUNTING)

    Hi all,
    I need help with balancing credits and debits'
    Here is what I have imputted:
    But the credits do not equal debits



    Here are the values you START WITH:
    Saints Softball City
    Balance Sheet
    July 31st 2006
    Assets

    Liabilities
    Bank
    $ 33 000-

    Accounts Payable
    Accounts Receivable

    - Cannon Sports
    $ 10 000-
    - Infield Flyers
    1 000-

    - Ewert Equipment
    22 000-
    - Remdal Red Sox
    500-

    - Sandhu Sporting Goods
    500-
    Supplies
    7 500-

    Bank Loan
    25 000-
    Equipment
    50 000-

    Total Liabilities
    $57 500-

    Owner’s Equity

    S. Lucas, Capital
    34 500-
    Total Assets
    $92 000-

    Total liabilities and Owner’s Equity
    $92 000





    HERE IS WHAT YOU HAVE TO IMPUT:: (this is where i did something wrong)
    Transactions for August
    1. Samuel Lucas, the owner, invested $40 000 in the business.
    2. Borrowed $15 000 from the bank, which was deposited in the business’ bank account.
    3. Paid $1 500 to Romeyn Properties Ltd. for the monthly rent.
    4. Bought office and various sport supplies for $2 000 cash.
    5. Purchased $43 000 worth of bats, helmets, and other sports equipment from Cannon Sports on account. The amount is due in 30 days.
    6. Paid $800 cash for the heating bill received today.
    7. Bought pitching machines from Ewert Equipment for $12 000 and have 30 days in which to pay.
    8. Equipment was repaired ($350) from Ewert Equipment and will be paid for later.
    9. Bought $7 800 of miscellaneous sports supplies on account from Sandhu Sporting Goods.
    10. Sold a one month, team membership to the Infield Flyers for $800 on account. The amount is to be received in 15 days.
    11. Sold a two-month team membership to the Remdal Red Sox for $2 200 on account. The bill is due in 30 days.
    12. Cash sales for the month amounted to $40 200.
    13. Bank charges for services fees and interest amounted to $250, which was taken directly out of the business’ bank account.
    14. Paid $2 200 cash for monthly wages.
    15. Sold a one-month membership cash for $1 300.
    16. Paid the full amount to Ewert Equipment from transaction 8 ($350).
    17. Owner withdrew $1 000 for personal use.

    My debits DO NOT equal credits... they need to
    Last edited by Jprojectrunway; March 29th 2009 at 02:03 PM.
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