I'd like to upload a picture of my sample trial balance to show the problem.
I've configured the inventory valuation to use anglo-saxon model + perpetual inventory costing. Everything works fine now and all calculations are correct. However:
#1 - There is no line shown as Net Operating Income #2 - Reported income is Negative Number (Understood, but would be better if it'd show a positive number) #3 - There is no retained earnings in Balance Sheet, how do I post income to this account and show it on the BS? #4 - PL is posted under Liabilities in Balance Sheet, there's no RE to transfer the balance to.
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|Asked: 12/19/13, 10:52 AM|
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|Last updated: 3/16/15, 8:10 AM|