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New Member

Please, can you take a look at my attached S100 balance sheet and tell me what I am doing wrong. The calculations in the automated fields are way off and I'm not sure why

The figures are supposed to be:

Assets:

Cash Year End: $33,137
Cash Start of Year: $8,741

Liabilities: 

Tax Payable:  $7,930

Equity:

Common Shares: $100
Retained earnings: $25,207

Net Income: $58,151
Cash Dividends Paid: $32,944

1 Reply
Highlighted
New Member

Please, can you take a look at my attached S100 balance sheet and tell me what I am doing wrong. The calculations in the automated fields are way off and I'm not sure why

Hello,

With the schedule 100 the important is that line 2599 is equal to line 3640 my first impression based off of the screen shot you provided is there is a problem on the schedule 125 inflating your total earning for the year which is taken into consideration on line 3640.  I can confirm that there is no errors with the way the software calculates and can also confirm that based on the information entered in the system the software is working as designed.