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”)

Solution PreviewSolution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.

Accounting Problems
    $15.00 for this solution

    PayPal, G Pay, ApplePay, Amazon Pay, and all major credit cards accepted.

    Find A Tutor

    View available Accounting Tutors

    Get College Homework Help.

    Are you sure you don't want to upload any files?

    Fast tutor response requires as much info as possible.

    Upload a file
    Continue without uploading

    We couldn't find that subject.
    Please select the best match from the list below.

    We'll send you an email right away. If it's not in your inbox, check your spam folder.

    • 1
    • 2
    • 3
    Live Chats