QuestionQuestion

The appropriate formula in the adjusted trial balance, income statement and balance sheet columns in the worksheet will allow for blanks if zero. Every cell in the adjusted trial balance should have this formula. All cells relating to income statement in the income statement column will have the same formula (if value is zero than blank), and the same is true for the balance sheet columns. The formulas for the adjusted trial balance cells are more complex than the formulas for the balance sheet and income statement columns. In addition to the other formulas, use the formula in the Total column of the accounts receivable aged trial balance that shows the agreement of the column total with the totals in the aging columns and “DOES NOT BALANCE” if it does not agree. Use a similar formula in the Fixed asset trial balance. In other words, you are going to use a formula that shows that footing the column and cross footing the appropriate columns is in agreement. An example would be: =IF(SUM(F73:H73)=SUM(i67:I72),SUM(I68:I72,”ERROR”)

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Accounting Problems
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