Thursday, December 8, 2011

When looking at an accounting end of month worksheet, how do you determine which transactions come first?

I am taking accounting. One of the assignments have only the end of month worksheet with all of the transactions dated January 31, 2007. The questions on my assignment are to look at transaction (a) and tell what the Debit and Credit are for that particular transaction. Now do the same for (c). There is nothing saying "this is transaction (a), (b), (c), or any other (letter). I'm so confused.|||I'm not quite sure what you're asking.





If you're given a work sheet with adjustments filled in and no letters describing which debit and credit go together, that is what you must determine.





Example:





If you see depreciation expense of 2,000., then accumulated depreciation would go with it as a 2,000. credit. You could could label each of these entries as, (a).





If supplies expense was a debit of 300., you would know that supplies would go with it as a 300. credit. Label each or these (b).





It wouldn't matter what letter is associated with which entry, as long as the entry is correct.





Continue sorting through the entries until you have them all labeled, (c), (d), (e), ete...





If you are looking for something different that what I explained, add a description so I can better understand how to help and I'll answer.|||it doesn't matter which one comes first

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