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    jrnich1902's Avatar
    jrnich1902 Posts: 2, Reputation: 1
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    #1

    Nov 16, 2010, 02:59 PM
    Adjusting entries
    One of my adjusting entries is:
    Income taxes must be recorded at 30% of income before income tax

    I only have a trial balance... I don't know where to even start?
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Nov 16, 2010, 03:28 PM

    Start by figuring out which accounts belong on your Income Statement versus your Balance Sheet. Once you have your income and expense items you can determine your net income.
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