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    VickySipka's Avatar
    VickySipka Posts: 1, Reputation: 1
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    #1

    Jan 16, 2007, 12:52 PM
    Adjusting entries
    How & where do I do the adjusting entries that I had just received from my accountant for December 31st, 2005, for our company?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    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)
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