[Monica1966]

I haven't came across this in accounting this is my first time,what's it mean to omitted adjusted trial balance columns on word sheet.
Do I not put in the additional data? If so how does that work?

[Monica1966]

I am half asleep I should explain this a little better
I have a trial balance of a company it was prepared from the records of the company on Nov 30,20x2,the close of its fisical year
Then I have all accounts listed (I won't list them as I don't want the answers)

After that the additional data

Then asks me to do prepare the worksheet (the adjusted trial balance columns are to be omitted.
I am very confused now
Not sure if it is from no sleep or what,but I just don't get this
I need help
Thanks in advance

[pready]

If I understand what you are trying to do you start with your trial balance, then transfer the account balances to your financial statement columns i.e. Income Statement and Balance Sheet. Your Income Statement debits and credits will not equal so you will have to add one entry which will be net income.

I have attached a sample worksheet in Excel 97-2003 format so you can see what one should look like.

[Monica1966]

What I am wanting to know is it tells me on worksheet to omitted the adjusted trial balance
What am I suppose to do with those adjustments that accrued

[Monica1966]

This is how the questions go
The trial balance of the Coleman-Foose Company was prepared from the record of the company on Nov.30,20X2,the close of its fiscial year.

Colman Trial Balance
Nov 30,20x2

Cash $12,200
Accounts Receivable $16,300
Allowance for Doubtful Accounts $200
Inventory-12/1/x1 $14,175
Unexpired Insurance $600
Supplies on Hand $265
Land $18,000

Building $22,000
Acc Depreciation (building) $6,000
Office Equipment $6,800
Acc Depreciation (equipment) $2,100
Accounts Payable $11,400
Mortgage Payable $9,000
Capital Stock $40,000
Retained Earnings $2,200
Dividends $8,000
Sales $172,000
Sales returns and allowance $600
Sales Discounts $2,700
Purchases $109, 800
Purchases returns and allowance $1,200
Purchases Discount $2,300
transportation-in $900
Salaries Expense $23,000
Travel Expense $5,200
Office Expense $1,300
Professional fee expense $2,500
Telephone expense $1,200
Building repair expense $800

Additional data:
a. The Allowance doe doubtful accounts should increase by 400
b.Merchandise Inventory at Nov.30/20X2 was 16,200
c.Unexpired Insurance on Nov.30/20X2 amounted to 440
d.Supplies on hand Nov.30/20X2, 120
e.Building depreciation is caculated at 5% per year (800)
f.Office depreciation is calculated at 10% per year.
g.Salaries accured at Nov 30/20X2 are 400

Required Prepare a work sheet (the adjusted trial balance columns are to be omitted) (this is where I am confused it they don't want the adjustment trial balance how do I include them then) I know I have done this before but honestly forget..
prepare am income statement for the year
Prepare closing entries

Thank you in advance for your time

[Just Looking]

Monica, It really doesn't make sense to me either. It sounds like they want you to do the columns for the trial balance and adjustments, and then to prepare the Income Statement. It doesn't really make sense because you are going to have to do the calculations for the trial balance plus or minus the adjustments. It certainly isn't something that would be done in real life.

[Monica1966]

WOW!! Thank you,at least I now know I am not crazy.. at first when I read it I was awake for 48 hours I thought I might have been seeing things.So closed the books and came back to it the next day and I was at a loss
This is a exam question is half way through my course and a huge part of my mark.. At a loss what to do now
Thank you for your help,I hope that if I email them they can let me know what is expected of this question..
I will be sure to tell you if I find out
Again thank you

[Monica1966]

are the adjustments to this

a. Allowance for Doubtful accounts (cr) 400
Bad debt expence (debit) 400

b.Inventory Nov 30/20X2 (debit) 16200
Income Summary (cr) 16200

c.unexpired insurance (cr) 440
insurance expense (debit) 400

d.Supplies on hand (cr) 145
Office expense (debit) 145

e. Acc Depreciation Building (cr) 1100
Building depreciation (debit) 1100

f.Acc dep Equipment (cr) 680
Equipment Dep (debit) 680

g. Salaries expense (debit) 400
Salaries payable (cr) 400

Could you please tell me if I have done these right,
Thank you in advance

[eddie yurong]

What I am wanting to know is it tells me on worksheet to omitted the adjusted trial balance
What am I suppose to do with those adjustments that accrued

Sir if you don't mine can you the exact format?

[eddie yurong]

This is for education study only

[paraclete]

I have to say I don't have any idea what you are talking about, arrange your thoughts and give us a specific question