What is the end-of-period worksheet, Accounting Basics

What is the end-of-period worksheet

Show Trial Balance-debits MUST EQUAL credits

Show Adjustments-debits MUST EQUAL credits

Carry adjustments forward to Adjusted Trial Balance columns.

Carry the amounts from Adjusted Trial Balance to Income Statement and Balance Sheet (only Assets, Liabilities, and Owner's Equity.)

The difference will be either a NET INCOME or NET LOSS.

 

Posted Date: 9/23/2013 1:57:10 AM | Location : United States







Related Discussions:- What is the end-of-period worksheet, Assignment Help, Ask Question on What is the end-of-period worksheet, Get Answer, Expert's Help, What is the end-of-period worksheet Discussions

Write discussion on What is the end-of-period worksheet
Your posts are moderated
Related Questions
Question: Part A: Briefly explain the term "depreciation" and give three reasons why do we need to provide for depreciation on fixed assets during a financial year. Part

journal entries and how to calculate entries 1. Braves estimates bad debt expense at 2% of net sales 2. At 12/31/11, 6 months of rent remains on the storage facility Braves lease

A characteristic organization chart for finance and accounting function is presented in following figure 2. You will notice the person at the helm of affairs the Director of Financ

The following situations involve a possible violation of the MIA ByLaws (on professional ethics, conduct and practice). For each situation, (1) decide whether or not the Code has b

Q. Describe about Capital? Capital -- money invested in a business by its owners. On the right side or bottom of a balance sheet. Capital also denotes to machinery, buildings a

Liz Marett is the chief financial officer for Fulton Restaurants. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5

Exercise 5-3 Analyzing and recording merchandise transactions-both buyer and seller LO P1, P2 Santa Fe Company purchased merchandise for resale from Mesa Company with an invo

Q. Modifying conventions on Materiality? The Materiality is a modifying convention that permits accountants to deal with immaterial (unimportant) items in an expedient however

In earlier section, we had illustrated accounting as the language of business. Along with language, accounting has several dialects. There are dissimilarities in terminology. In de