Accounting


Accounting Forum

AccountingCoach.com is the world's largest free online accounting course.


Not signed in (Sign In)

Categories

Vanilla 1.1.7 is a product of Lussumo. More Information: Documentation, Community Support.

Welcome Guest!
Want to take part in these discussions? If you have an account, sign in now.
If you don't have an account, apply for one now.

General Accounting Discussions: Accounting entries

Bottom of Page

1 to 2 of 2

  1.  
    • CommentAuthorgacsaj68
    • CommentTimeAug 29th 2007 edited
     
    An inexperienced bookkeeper started using accounting software from June 2006 in a small firm of sole proprieter. He has not shown any owners capital. Recently I got appointed in this firm. Now how can I make an new adjusting journal entry to input owners capital.
    Thankful People: AHMED ALI SALIM
    • CommentAuthorneo
    • CommentTimeAug 31st 2007
     
    One or two journal entries cannot solve this problem. You need to review the entire prior years entries to see whether all transactions where taken up properly (which I doubt he did). That simply means, adjusting entry for every prior years error.
    Thankful People: gacsaj68

1 to 2 of 2

  1.  



 

Why AccountingCoach.com?

the accounting coach

AccountingCoach.com is designed to help people without an accounting background easily understand accounting concepts at no cost.


By investing thousands of hours, we have created clear and concise accounting information for both business people and students of all ages.


We understand how difficult accounting can be. That's why we have ensured that each accounting topic includes a clear explanation, reinforcing drills, Q&A, puzzles, dictionary of terms, etc.


Read 1,440 Visitor Testimonials



What's on AccountingCoach.com?