Step 34 of 40: Adjustment 8
This step illustrates how to make an Adjustment to an existing worksheet by modifying the reference cell on a different worksheet.
Written description of the slides
In Step 34, record an adjustment to the General Journal to recognize the Income Tax Expense that has been incurred during this accounting period. Multiply Income Before Income Tax in cell B21 of the Financial Statements worksheet by the Income Tax rate on the Assumptions worksheet, rounded down to the nearest 1,000.
NOTE: Both amounts should be derived by formulas. You will only receive partial credit if you type in numbers in the cells for the amount.
Steps labeled YOUR TURN are reinforcing steps that present opportunities to apply concepts covered earlier in the assignment.
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