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VickySipka
Jan 16, 2007, 12:52 PM
How & where do I do the adjusting entries that I had just received from my accountant for December 31st, 2005, for our company?

CaptainForest
Jan 17, 2007, 02:22 AM
The How part depends on what type.

For example. Let's say you must record $500 of depreciation on the company's car.

Dec. 31/06
Dr. Depreciation Expense 500 (goes to the Income Statement)
Cr. Accumulated Depreciation – Car 500 (goes on the Balance Sheet)