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-   -   How do I complete this adjustments (https://www.askmehelpdesk.com/showthread.php?t=370491)

  • Jun 30, 2009, 06:01 AM
    Janelle101
    1 Attachment(s)
    How do I complete this adjustments
    Good Day! I am asking someone to please help us with this topic we've already done it none of us passed our teacher is to busy to help us, so we come to someone out there, I believe I did the trial balance correct but the adjustment is a problem we never did this but we are willing to learn. Please help us. :o
  • Jun 30, 2009, 06:38 AM
    codyman144

    First step is to close all the temporary accounts (reveunes and expenses) to income summary or in this case I think it is being called Exp and Rev Summary.
  • Jun 30, 2009, 06:45 AM
    Janelle101

    We don't understand we haven't reached there, all we got were an example of a trial balance and were told to do it.
  • Jun 30, 2009, 07:06 AM
    codyman144

    At what point do you no longer understand?

    You are there, like I said you need to close all the revenue & expense accounts to the Exp and Rev Summary account. You need to zero all these accounts out so if you have $3000 credit in reveune you need to debt reveune 3000 and credit income summary. You need to do this for all the accounts.
  • Jun 30, 2009, 02:53 PM
    Janelle101

    OK! We tried and tried we made a lot of errors but Peachey figured out some and she posted it, please review it and make any corrections please help us, we can't go any further.
  • Jun 30, 2009, 04:07 PM
    charlesjerome

    Compute te adjustment necessary for Property Taxes Expense for the month of May
  • Jun 30, 2009, 04:10 PM
    charlesjerome
    Compute the adjusment necessary for property taxes expense for the month of may.

    4/01 Prepaid property taxes 1,594.78
    Bank
    Paid six months property taxes for the perid 4/01 through 10/31. How do I get the answer what is the answer
  • Jun 30, 2009, 09:09 PM
    Janelle101

    charlesjerome: I think if you make your own thread you will get a quicker answer also they will want you to try trust me we know.
  • Jul 3, 2009, 11:10 PM
    morgaine300

    Janelle, how very true! :-)

    Did you see my post to Peachy?
  • Jul 4, 2009, 06:04 AM
    Janelle101

    Yes! I did and thank you a lot you are a life saver.

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