how do you post adjustments in the accounting cycle?
116733
try this site, it may be useful\n\n\nhttp://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\nhttp://www.schoolingkids.com/
1126596
1)  Not everything that should be accrued was accrued.\n\n2)  The estimates/formulas used to determine the accrual numbers end up being inaccurate.
374176
It varies from state to state:\n\nSales and use tax chart\nSales tax chart\nSales tax calculation chart\n\netc etc
348604
try this site\n\nhttp://www.futureaccountant.com/process-costing/
940740
Hi Tasksgirl.....   I need all your attention please!\n\nI suppose you work everyday with an automated Accounting System, like Accpac, QuickBooks, Salomon, etc....\n\nEntries closing (concepts and definitions) :\n\n1) Closing entries are made to close revenues, cost of goods, operational costs and any other account involved to calculate the compay's NET INCOME.\n\n2) Net Income is the result that you read at the end of an INCOME STATEMENT report.\n\n3) You MUST enter Closing entries once in a year.\n\n4) I have seen two types of Closing Entries:\n    - Manually\n    - Automatically\n\n    Manually Closing Entries are done when automatically option does not exist.  It is a obsolete system.\n\n    Automatically is done when you close the fiscal year.  If this option exists, never enter Closing Entries manually.  It will ends on critical errors.\n\nSome Accounting Systems, like Accpac, looks for marked accounts as Revenues, Costs of Goods, Expenses, Other Incomes, etc...  and create transactions to close them.\n\nFor instance:\n\nA revenue account balance is            -15,200,000.oo\nA cost of good account balance is       7,100,000.oo \nAn expense account balance is            3,000,000.oo\n\nNet Income will be  -5,100,000.oo  (Revenue - CoGs - Expenses)   Negatives signs are shown only to show this example only, but usually accounting system do not show them unless it be needed.\n\nok, Accpac will create a batch entry as follow:\n\nRevenue account    15,200,000.oo\nCoGs account         - 7,100,000.oo \nExpense account    -  3,000,000.oo\nEarning Account    - 6,100,000.oo   (Equity account)\n\nEarning account is entered to balance this batch. Now, Net Income will part of Company's Equity account.\n\nNext time you run a Income Statement, Net income will be ZERO, because it was closed by Closing Entries.  This result is now in Equity Accounts.\n\nthat's it... hope that helps you .... good luck!
253439
1).  What are you adjusting your notes payable for?  Interest Expense?  Current Maturity?  Interest Payable?\n\n2).  When was the "timber tract" purchased?  What is the useful life of the "timer tract"?  What method of depreciation are you using?  Just because you have a salvage value does not mean you fully depreciate it in the current year.  After you get the correct depreciation (using the above information), then you would debit depreciation expense and credit accumulated depreciation.
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If you are referring to a chequebook....\n\nYou need five columns. One for date, one for description, one for withdrawals, one for deposits, one for balance.\n\nThe balance should be equal to the sum of the previous balance plus the deposits and minus the withdrawls.
189413
A cpa can do it, or jsut a good accountant, or you can do it yourself as most people do. You can find all the forms you need on the internet.
1054307
Fill out a t1 adjustment form for the tax year and add the amount of the t4 to the appropriate line on your return and apply it to the appropriate tax year. Send to CCRA, Not a problem.
812405
Model balance sheet and profit and loss appropriation account can be found in Schedules to the Companies Act 1956. This is an Indian Law. In USA you may refer to website of CPA institute for any such format. Otherwise best way is to go to any company's website and look under information for investors. Financial results for companies are usually displayed on their websites. You can get formats there.
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closing entries are necessary end-of period steps to complete the accounting cycle and prepare the accounts for recording the transactions of the next accounting period.\n\nstep 1: Close Credit Balances in Revenues to Income Summary\n(Debit Revenue, Credit Income Summary)\n\nstep 2: Close Debit Balances in Expenses to Income Summary\n(Debit Income Summary, Credit Expenses)\n\nstep 3: Close Income Summary to Owner's Capital\n(Debit Income Summary, Credit Owner's Capital)\n\nstep 4: Close Withdrawals to Owner's Capital\n(Debit Owner's Capital, Credit Withdrawals)
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http://www.mycorporation.com/taxforms.htm
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go to www.irs.gov and type in the form you need
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This site has a wonderful explanation on the designing of accounting system in an organisation. Please be patient enough to read through. http://www.futureaccountant.com/accounting-process/study-notes/\n\n\nhttp://www.futureaccountant.com/\nhttp://www.schoolingkids.com
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try this site for help on accounting.\n\n\nhttp://www.futureaccountant.com/accounting-process/
127760
4-4-5 Week Accounting provides for non-standard accounting periods. While most companies end their year on December 31st or the last calendar day of some other month, there are some companies whose year will end, for example, the last Saturday in December or some other month. \nThese companies will divide each quarter of the year into three monthly periods consisting of two four week “months” of 28 days each and one five week “month” of 35 days, hence the name 4-4-5 Week Accounting Periods. This grouping of monthly periods can also be set up as 5-4-4 weeks or 4-5-4 weeks, but 4-4-5 seems to be the common way to do this.\nThis is similar to 13 Period Accounting except that in the case of 13 Period Accounting, the tax year will consist of 13, 28 day accounting periods.  13 Period Accounting is another common non-standard accounting period method, often an option in Accounting Software packages.  It can be used, among other things, to group all audit adjustments in one last accounting period.
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If we have incurred an expense, then we owe the money to someone.\nAs we are making an adjustment, it means we have not yet received and posted an invoice, so the liabilty has not yet been registered.\nWe therfore need to increase the balance of a liability account.\n\nB is the correct answer.