You will be guided by the notes, they will be clear whether it is included and at what value, whether there was a wrong figure included that needs to be corrected. Also the notes help you identify what you need to calculate and include or exclude to the retained earnings.
The notes will clearly spell out, the notes test your understanding of accounting standards, you have to identify the standard applicable to each note, and account for that note accordingly
My problem is the 4 that note since it’s already in the trial balance show so I know it’s not already in retain earnings
You will be guided by the notes, they will be clear whether it is included and at what value, whether there was a wrong figure included that needs to be corrected. Also the notes help you identify what you need to calculate and include or exclude to the retained earnings.
Thanks for the video 👍🏻
You are welcome. Do not forget to like and share
Like I know the working but am doubting if some stuffs in notes are already adjusted
The notes will clearly spell out, the notes test your understanding of accounting standards, you have to identify the standard applicable to each note, and account for that note accordingly
it would be good if you provide the link to excel sheet.
Thanks for the feedback, next time i will provide it. I was using the same excel file for all videos so it was lost.