Accrual to cash adjustment

Discussion in 'General Accountancy Discussion' started by wanttoknow, Apr 21, 2017.

  1. wanttoknow

    wanttoknow

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    We are presenting financial statements in a cash basis. How do I do an adjustment for some entries made under prepaid expenses? I need to adjust those and reissue the BS and PNL. Thanks!
     
    wanttoknow, Apr 21, 2017
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  2. wanttoknow

    kirby VIP Member

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    Credit Prepaid Expense
    Debit the Expense Acct for the type of expense it is
     
    kirby, Apr 21, 2017
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