W5 Day 24 of Nana's Internship
Activity
- Continued to adjust the general ledger and journal entries to resolve the imbalance found in the balance sheet.
Key Learning
- Learned how to trace and adjust general ledger entries to fix imbalances in financial statements.
- Gained a deeper understanding of how journal entries impact the balance sheet.
- Developed problem-solving skills by identifying and correcting accounting discrepancies.
- Realized the importance of accuracy and consistency when managing financial records.
Reflection
Today, I
continued adjusting the general ledger and journal entries to solve the
imbalance in the balance sheet. I spent quite a long time trying to balance the
figures, and it was quite frustrating because the trial balance matched, but
the balance sheet still didn’t tally. I asked Ms. Amber for help, and she
patiently guided me through the corrections. With her explanation, I managed to
balance the trial balance. However, the balance sheet still had discrepancies,
which left me feeling confused. Later, I approached Ms. Chan for further
clarification. With her help, I started tracing the issue more carefully and
continued working to identify what was causing the imbalance. This process
showed me how important it is to be persistent, detail-oriented, and not afraid
to ask for guidance when stuck.
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