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Post balance sheet event question?

If an event occurs after December 31, 2008, but before issuing the stock, but provides additional evidence about conditions that existed at the balance sheet date and affect the realizability of accounts receivable, in case 1. recorded as an adjustment the bad debt expense for the year ending 2008, or 2. recorded as an adjustment directly to retained earnings account is correct I think what 1., but I would that advice from someone who knows.

If this happens after 12-31, which would be registered in the month happened.If is decided that the loss occurred 12-31, but did not realize until later, then occurring in 12-31. That sounds confusing, but if you are in an accounting class, you have to know when it happened the event, not when you issue the balance. You should go back and correct past balances and GL Accounts. At present, there are banks and credit unions across the country trying to decide when the losses occurred, and that address this very real problem. Worst moment in the history of accounting to try to make a good financial. Interesing also, tho! In the real world, most are going with her # 1, but many are saying that certain events occurred after, and were more forward. You may not, under any circumstances, to know that something happened in 12-31, and simply ignore this fact and put the information in the following balance sheet. Good luck and your teacher to explain who decides when the event (loss) actually happened. It will be a whole class or many! Bottom line, for your question, I would say # 1.

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