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

    Dec 10, 2010, 09:09 AM
    Balance sheet
    On my balance sheet my net income is $3.43 higher than it should be. All other accounts are correct both in Assets and Liabilities/OE. How can I adjust the net income down by $3.43 without affecting any other account on the balance sheet?
    Just Looking's Avatar
    Just Looking Posts: 1,610, Reputation: 480
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    #2

    Dec 10, 2010, 10:31 AM

    How do you know it is different? Is it because your balance sheet doesn't balance when you add your net income to RE? If that's the case, you need to find your mistake. First make sure you didn't make any mistakes in adding your Income Statement, then look at numbers on your Income Statement to make sure you didn't transfer one incorrectly. Are you sure any journal entries posted are in balance? Did you start your statements with a balanced Trial Balance?
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