There is no profit, mainly losses to the tune of $300.

There some few mixed up balance, accrued rent should be in non-current assets.

Cant figure out total equities. (explain )

Would be better if the tables showed debits, credits, and totals in column headings and not just the pound signs...makes it confusing to understand

how to balance on all this current assets current Liabilities non-current liabilities give you accurate answer

Accounting -> The balance sheet example The balance sheet example Balance sheet as at 31 May Current assets £ £ £ Bank 2 600 Petty cash 100 Prepaid advertising 500 Accrued rent 600 Stock of supplies 200 Debtors 6 100 Stock 31 May 4 200 14 300 Non-current assets Equipment 10 000 - Accumulated depreciation of equipment 2 200 7 800 Motor vehicles 8 000 - Accumulated depreciation of motor vehicles 1 800 6 200 14 000 Total assets 28 300 Equities Current Liabilites Creditors 3 400 Accrued salaries 300 Prepaid rent 200 Loan 4 000 7 900 Non-current liabilities Loan 16 000 Owners equity Capital 10 000 + Net profit 300 10 300 - Drawings 4 900 5 400 Total equities 29 300 The above reports are not fully inclusive.

illustration given for trial balance is fruitful. The posting has been made in the right place but two sides are not equal. Presumably, there might be suspense account in the trial balance; Wrong amount of money might have been brought from trial balance. Otherwise, the amount of assets and liabilities should be equal.

done

equity is good

What is an example of a balance sheet?