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

Assignment Help:

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.

 


Related Discussions:- What is the end-of-period worksheet

Accounting entity assumption and matching principle, 1. For each of the fol...

1. For each of the following accounting assumptions/principles, explain a business transaction:   (a) Accounting Entity Assumption (b) Going Concern Assumption (c) Matching Prin

Cartwright inc has $1, Cartwright inc has $1,000,000 of 10% bonds outstandi...

Cartwright inc has $1,000,000 of 10% bonds outstanding on December 31, 20x8. On January 1, 20x9 adams corp and 80% owned subsidiary of Cartright, inc purchases a $250,000 part of c

What is cost of goods sold, Q. What is Cost of goods sold? The second m...

Q. What is Cost of goods sold? The second major division of an income statement for a merchandising business is cost of goods sold. Cost of goods sold is denotes to cost to the

Prepaid or period expense, Are mailing lists are considered as prepaid or p...

Are mailing lists are considered as prepaid or period expens?

The process of adjusting the bond interest expense account, The process of ...

The process of adjusting the bond interest expense account for any premium or discount is called amortization of the premium or discount

What is the meaning of fica tax, FICA Tax (Social Security) Both the...

FICA Tax (Social Security) Both the employee and the employer contribute equally. OASDI has a Taxable Wage Base that is the maximum amount of earnings during a calendar y

Accounting as an information system, As discussing the scope of accounting ...

As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,

Samuel, what is the implication of applying accounting concept wrongly

what is the implication of applying accounting concept wrongly

Account, #quthe books of deven verma could not be tallied.the accountant tr...

#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd