Adjusting entries for year end

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Dec 15, 2006, 07:53 AM

nowens

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Join Date: Dec 2006

Posts: 1

Adjusting entries for year end

Hi everyone. I was wondering about year end adjusting enteries. What do I do with cash. Do I adjust it or leave it alone? I started out with 25,000 and I ended with 30,000. Do I put this in OE or somewhere else. Do I adjust everything with a different balance?

Answers

Dec 15, 2006, 07:00 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	Adjusting Entries are stuff where you record depreciation expense, take down your prepaids, etc. In terms of your cash going from 25K to 30K: That would have been “adjusted” during the year. If you made a sale for 10,000, you would have debited cash for 10,000, etc.

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