Any accountants in the house? I finally got it!!

[shelleyd2008]

I've learned so many different things these last 9 weeks in my financial accounting class that it all seems to be running together!! I'm working on my final project, and part of the final is a work sheet with trial balance, adjustments, adjusted trial balance, etc, etc. Where do I get the trial balance info from?? I'm drawing a blank, and the text is not helping!!

PLEASE HELP!

 

[thebritt]

So sorry - I could help with chemistry, plants, animal physiology, soil science, and lots of things having to do with living things. Not an accounting molecule in my brain

 

[debilorrah]

Geez there should be plenty of that information out there.... Try my companys website vvta.org and look for the financial statements. They are there somewhere.

 

[wombat]

Trial balance is separately totaling all the debits and all the credits in a double-entry accounting system at the end of an accounting period.

Total debits should equal total credits, and a trial balance is a mathmatical proof that you have this.

It's not a guarantee the entries are all accurate, as you could have still posted entries against the wrong accounts, but it is a preliminary method of verification of accuracy.

A trial balance is more of a worksheet, a step in the process of preparing a balance sheet and income statement.

No, I'm not an accountant, but working for an accounting firm in college is what got me into IT as a career, eventually ... Look over what I wrote, and then go back and check your textbook. College was a long time ago for me, so I might not have given you the best answer.

 

[debilorrah]

Quote:
LOL!!!! She is a student. I am not sshe understood all the accountant speak. I think she needs to SEE one.

 

[shelleyd2008]

Quote:
No, that's basically what it says, I just can't figure out where I'm messing up!! I guess I need to go through each transaction, because I'm trying to take the figures from the general ledger and general journal, and it's just not working

Thanks for the help though

 

[shelleyd2008]

I am still not getting it. Is there anyone that can help me? This is for my final in financial accounting, and I just can't figure out what I'm doing wrong!! If anyone can help, I can email the problem to you, and tell you what I've tried (if I can remember every way I've tried to do this!). I need to do a worksheet, and I'm stuck on the unadjusted trial balance. I know once I get that part done I can figure the rest out, I just can't figure out what I'm messing up on. I've done t-accounts for all the transactions, general ledger and general journal accounts. The journal and ledger are part of the final, and it tells me if the totals are right or wrong. The t-accounts I've done seperately, so I'm on my own for that one. All the totals for the general journal and ledger are correct, I just can't seem to get the trial balance to even out.

This is due on Sunday, and I've been working on it all week long. I am stuck, and my instructor is MIA. Please help!!

 

[English Chick]

Wish I could help you... but I can't... hope you get the help you need Shelley..... and good luck for your exams

 

[hikerchick]

Did you post net income to retained earnings? OR income summary account I think they call it in school.

 

[shelleyd2008]

Quote:
Isn't that for closing the accounts? I'm not closing them yet, I'm trying to do the unadjusted trial balance. I just can't figure out where I'm messing up

I'm thinking it has to do with the account balances from the previous month, but no matter which way I do it it's still not coming out.

I think I need to make adjustments to the inventory (book says ending inventory is $2,632 and $504 for store and office supplies, figures come out as $1,204 and $363 and are correct), but these would be done on the adjustments columns, not the trial balance, correct? Plus these are not the biggest problem, I'm about $80,000 under on both Dr. and Cr. columns.