Finalisation of balance sheet

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Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2013 what should be the reatment if balance sheet does not match?

CA. RICHI SAXENA

CA. RICHI SAXENA (Expert)
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18 April 2013 If the Balancesheet is not matching then first of all go back to the trial balance. Check the total of trial balance and if there is mismatch then place the difference in suspense account. Thereafter start finding out the differences as we do while finding out errors and ommissions.

CA. RICHI SAXENA

CA. RICHI SAXENA (Expert)
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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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03 June 2013 First find out the difference between assets and liabilities then divide it be 2 to find out whether any debit has been credited or any credit has been debited. If it is not divisible then divide it by 9. If it is divisible then it is clear cut indication that there is mismatch in the figures. you might have taken 9456 as 9546 or like this difference of 90 if divided by 9 it is divisible. So try this.

You can also try the other experts advise but I do not give my consent for doing this as once you have transferred it to suspense it will never be reconciled.

Now, a days it is the computer regime and there cannot be any difference in B/S. I think you are asking for the examination purpose then try my solution.