Review every account balance for adjustment at year’s end. Prepaids, accrueds, and estimates are analysed to amends Custom Essay

1) Review every account balance for adjustment at year’s end. Prepaids, accrueds, and estimates are analysed to amends. 2) Prepare adjusting entries that correct accounts in error. Post amount to the WTB each entry a repairer 3)Pull an adjusted trial balance and foot the colums true. If debits still equal credits the process is almost through. 4)Extend all account balances to the columns that are due. Income statement and balance sheet separated two by two 5)Food each column and then compare the totals of each dual set. the difference should be equal and a profit or loss net.

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