ACCOUNTING HELP - Balance sheet and Income Statement
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There are quite a number of journal entries to actually complete, and based on the question example aren't actually required - even though they would be done in real life, and are a good way of understanding. For example, note 1 refers to closing inventory, journal entries = Dr Inventory (FP) Cr Cost of Sales (IS), i.e. include £345,000 as the inventory figure in the FP under current assets, reduce cost of sales by £345,000 in the IS.
Without wishing to fall foul of the forum rules have a look at http://www.proactiveresolutions.com/learners-zone/ for some support resources
Hope it helps
Without wishing to fall foul of the forum rules have a look at http://www.proactiveresolutions.com/learners-zone/ for some support resources
Hope it helps
Original post by achaacha
Do you understand about my questions? Im confused how to get the journal entry
Which bit, there are lots of journals you need to do.
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