Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Preparing Closing entries from Beginning balance and Preclosing Trial Balance help (https://www.askmehelpdesk.com/showthread.php?t=653809)

  • Apr 23, 2012, 06:38 PM
    kennyl370
    Preparing Closing entries from Beginning balance and Preclosing Trial Balance help
    I am trying to complete a homework assignment and have been staring at the information my professor has given me for about 6 hours now and am still at a complete loss/standstill. Would anyone mind answering how you come up with the closing entries from only the beginning balance and preclosing trial balance? Thank you for any way you can help me!
  • Apr 23, 2012, 07:08 PM
    kennyl370
    Ok, so I actually believe that I just figured out how to do the closing entries from just the Pre-closing Trial Balance and have a different question to ask. It should be perfectly possible to come out with a negative number for Net Assets shouldn't it? That would just mean that your organization ended up losing money that year?
  • Apr 23, 2012, 07:46 PM
    paraclete
    Yep

  • All times are GMT -7. The time now is 08:46 AM.