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    countrypotter's Avatar
    countrypotter Posts: 2, Reputation: 1
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    #1

    Feb 6, 2014, 09:32 AM
    Q Reporting - Make adjusting entries end of Q or end of mo?
    Hello,

    I am working on an accounting term project. We are asked to analyze two sets of business events, transactions and related information for a company. The two sets of business events are two quarters (three month periods). For each quarter we are required to: analyze, journalize, post (to T-accounts) all necessary transactions, make any necessary adjusting entries, and prepare an income statement (after making all necessary closing entries), and a balance sheet.

    QUESTION: For the adjusting entries, would I make necessary adjusting entries at the end of every month in each quarter, or, at the end of each quarter?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Feb 6, 2014, 02:33 PM
    Based on the information provided I would do adjusting entries at the end of each quarter.
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