SlideShare ist ein Scribd-Unternehmen logo
1 von 11
Chapter 4
Purpose of Adjusting ,[object Object],[object Object],[object Object],[object Object]
Adjusting Entries ,[object Object],Adjustments Prepaid  Expenses Amortization Unearned Revenues Accrued  expenses Accrued  revenues
Prepaid Expenses ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],To record expired insurance 150 150 Insurance Expense Prepaid Insurance Jan.  31 Credit Debit PR Account Titles and Explanation Date
Amortization ,[object Object],[object Object],[object Object],[object Object]
Straight-line Amortization ,[object Object],[object Object],Cost of asset – Estimated value at end of estimated useful life Estimated Useful Life Monthly Amortization = 30000 – 6000 60 = 400
Adjusting Entry ,[object Object],[object Object],[object Object],To record monthly amortization on  furniture 400 400 Amortization Expense, Furniture Accumulated Amortization, Furniture Jan.  31 Credit Debit PR Account Titles and Explanation Date
Unearned Revenues ,[object Object],[object Object],[object Object],[object Object],To record earned portion of revenue  received in advance. 100 100 Unearned Revenue Revenue Jan.  31 Credit Debit PR Account Titles and Explanation Date
Accrued Expenses ,[object Object],[object Object],[object Object],[object Object],To record three days’ accrued salary 270 270 Salaries Expense Salaries Payable Jan.  31 Credit Debit PR Account Titles and Explanation Date
Accrued Revenues ,[object Object],[object Object],[object Object],[object Object],To record 16 days’ accrued revenue. 2880 2880 Accounts Receivable Consulting Revenue Jan.  31 Credit Debit PR Account Titles and Explanation Date
Accrual Adjustments in Later Periods ,[object Object],Paid two weeks salary including three  days accrued in January 900 270 630 Salaries Payable Salaries Expense Cash Feb.  9 Credit Debit PR Account Titles and Explanation Date

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (16)

Chap 3
Chap 3Chap 3
Chap 3
 
Adjusting the accounts
Adjusting the accountsAdjusting the accounts
Adjusting the accounts
 
Accounting adjusting
Accounting adjustingAccounting adjusting
Accounting adjusting
 
Williams04
Williams04Williams04
Williams04
 
Financial accounting
Financial accountingFinancial accounting
Financial accounting
 
Whbm04
Whbm04Whbm04
Whbm04
 
Chapter 4: The Adjustment Process
Chapter 4: The Adjustment ProcessChapter 4: The Adjustment Process
Chapter 4: The Adjustment Process
 
Adjusting the account
Adjusting the accountAdjusting the account
Adjusting the account
 
CHAPTER 3 Measuring Business Income: The Adjusting Process
CHAPTER 3  Measuring Business Income:  The Adjusting ProcessCHAPTER 3  Measuring Business Income:  The Adjusting Process
CHAPTER 3 Measuring Business Income: The Adjusting Process
 
Trial balances
Trial balancesTrial balances
Trial balances
 
Chapter 4 Accounting/ Completion of Accounting Cycle ppt
Chapter 4 Accounting/ Completion of Accounting Cycle pptChapter 4 Accounting/ Completion of Accounting Cycle ppt
Chapter 4 Accounting/ Completion of Accounting Cycle ppt
 
Chapter04
Chapter04Chapter04
Chapter04
 
Chap004
Chap004Chap004
Chap004
 
Stu Ch04 Completing The Accounting Cycle
Stu Ch04 Completing The Accounting CycleStu Ch04 Completing The Accounting Cycle
Stu Ch04 Completing The Accounting Cycle
 
Adjusting entries 2
Adjusting entries 2Adjusting entries 2
Adjusting entries 2
 
Adjustment entries
Adjustment entriesAdjustment entries
Adjustment entries
 

Ähnlich wie Adjusting Accounts

Financial accounting AC-23-Adjusting Journal Entries
Financial accounting AC-23-Adjusting Journal EntriesFinancial accounting AC-23-Adjusting Journal Entries
Financial accounting AC-23-Adjusting Journal Entriesblancomaryrosary
 
Depreciation
DepreciationDepreciation
Depreciationfdration
 
חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ
 חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ
חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץבייקר טילי הבינלאומית
 
Financial Managerial Accounting 6th Edition Horngren Solutions Manual
Financial Managerial Accounting 6th Edition Horngren Solutions ManualFinancial Managerial Accounting 6th Edition Horngren Solutions Manual
Financial Managerial Accounting 6th Edition Horngren Solutions ManualhyKeely
 
Accounting "Oopsies" - Jennifer Goodman
Accounting "Oopsies" - Jennifer GoodmanAccounting "Oopsies" - Jennifer Goodman
Accounting "Oopsies" - Jennifer GoodmanDecosimoCPAs
 
Topic5 compthe acccycle_robiah
Topic5 compthe acccycle_robiahTopic5 compthe acccycle_robiah
Topic5 compthe acccycle_robiahkuZocoi
 
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...Ahmad Hassan
 
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdf
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdfACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdf
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdfLouveliaJaneBudias
 
Introduction to financial accounting
Introduction to financial accountingIntroduction to financial accounting
Introduction to financial accountingMbongiseni Ceza
 
chap 1 principle Accounting.pptx
chap 1 principle Accounting.pptxchap 1 principle Accounting.pptx
chap 1 principle Accounting.pptxissackmohamed3
 

Ähnlich wie Adjusting Accounts (20)

Whbm04
Whbm04Whbm04
Whbm04
 
Williams04
Williams04Williams04
Williams04
 
Financial accounting AC-23-Adjusting Journal Entries
Financial accounting AC-23-Adjusting Journal EntriesFinancial accounting AC-23-Adjusting Journal Entries
Financial accounting AC-23-Adjusting Journal Entries
 
Chap004
Chap004Chap004
Chap004
 
Accounting basics .pptx
Accounting basics .pptxAccounting basics .pptx
Accounting basics .pptx
 
Chap002.interm
Chap002.intermChap002.interm
Chap002.interm
 
Depreciation
DepreciationDepreciation
Depreciation
 
חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ
 חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ
חשבונאות עקרונות של שכר הנהלת חשבונות - איל הורוביץ
 
Financial Managerial Accounting 6th Edition Horngren Solutions Manual
Financial Managerial Accounting 6th Edition Horngren Solutions ManualFinancial Managerial Accounting 6th Edition Horngren Solutions Manual
Financial Managerial Accounting 6th Edition Horngren Solutions Manual
 
Accounting cycle
Accounting cycleAccounting cycle
Accounting cycle
 
Accounting "Oopsies" - Jennifer Goodman
Accounting "Oopsies" - Jennifer GoodmanAccounting "Oopsies" - Jennifer Goodman
Accounting "Oopsies" - Jennifer Goodman
 
Adjusting entries bookkeeping
Adjusting entries bookkeepingAdjusting entries bookkeeping
Adjusting entries bookkeeping
 
Topic5 compthe acccycle_robiah
Topic5 compthe acccycle_robiahTopic5 compthe acccycle_robiah
Topic5 compthe acccycle_robiah
 
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...
| Accounting Cycle | Double Entry Accounting | Basic Accounting Equation | 8 ...
 
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdf
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdfACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdf
ACCOUNTING_FOR_ADJUSTING_ENTRIES_Key_Ter.pdf
 
Ac process
Ac processAc process
Ac process
 
accounting
accountingaccounting
accounting
 
Introduction to financial accounting
Introduction to financial accountingIntroduction to financial accounting
Introduction to financial accounting
 
chap 1 principle Accounting.pptx
chap 1 principle Accounting.pptxchap 1 principle Accounting.pptx
chap 1 principle Accounting.pptx
 
Book keeping
Book keeping Book keeping
Book keeping
 

Mehr von mscuttle

Introduction To Macroeconomics
Introduction To MacroeconomicsIntroduction To Macroeconomics
Introduction To Macroeconomicsmscuttle
 
Theory of a Firm
Theory of a FirmTheory of a Firm
Theory of a Firmmscuttle
 
Firms, Competition And Markets
Firms, Competition And MarketsFirms, Competition And Markets
Firms, Competition And Marketsmscuttle
 
Production Issues
Production IssuesProduction Issues
Production Issuesmscuttle
 
The Internet
The InternetThe Internet
The Internetmscuttle
 
Digital Literacy
Digital LiteracyDigital Literacy
Digital Literacymscuttle
 
Monetary Policy
Monetary PolicyMonetary Policy
Monetary Policymscuttle
 
Corporations
CorporationsCorporations
Corporationsmscuttle
 
Personal Finance
Personal FinancePersonal Finance
Personal Financemscuttle
 
Accounting for Stock Activities
Accounting for Stock ActivitiesAccounting for Stock Activities
Accounting for Stock Activitiesmscuttle
 
Isp Examples
Isp ExamplesIsp Examples
Isp Examplesmscuttle
 
Capital Assets
Capital AssetsCapital Assets
Capital Assetsmscuttle
 
Fiscal Policy And The Business Cycle
Fiscal Policy And The Business CycleFiscal Policy And The Business Cycle
Fiscal Policy And The Business Cyclemscuttle
 
Intro to Macroeconomics
Intro to MacroeconomicsIntro to Macroeconomics
Intro to Macroeconomicsmscuttle
 
Human Resources
Human ResourcesHuman Resources
Human Resourcesmscuttle
 
Receivables
ReceivablesReceivables
Receivablesmscuttle
 
Intro to Macroeconomics
Intro to MacroeconomicsIntro to Macroeconomics
Intro to Macroeconomicsmscuttle
 
Human Resources
Human ResourcesHuman Resources
Human Resourcesmscuttle
 
Market Structure
Market StructureMarket Structure
Market Structuremscuttle
 
Internal Controls
Internal ControlsInternal Controls
Internal Controlsmscuttle
 

Mehr von mscuttle (20)

Introduction To Macroeconomics
Introduction To MacroeconomicsIntroduction To Macroeconomics
Introduction To Macroeconomics
 
Theory of a Firm
Theory of a FirmTheory of a Firm
Theory of a Firm
 
Firms, Competition And Markets
Firms, Competition And MarketsFirms, Competition And Markets
Firms, Competition And Markets
 
Production Issues
Production IssuesProduction Issues
Production Issues
 
The Internet
The InternetThe Internet
The Internet
 
Digital Literacy
Digital LiteracyDigital Literacy
Digital Literacy
 
Monetary Policy
Monetary PolicyMonetary Policy
Monetary Policy
 
Corporations
CorporationsCorporations
Corporations
 
Personal Finance
Personal FinancePersonal Finance
Personal Finance
 
Accounting for Stock Activities
Accounting for Stock ActivitiesAccounting for Stock Activities
Accounting for Stock Activities
 
Isp Examples
Isp ExamplesIsp Examples
Isp Examples
 
Capital Assets
Capital AssetsCapital Assets
Capital Assets
 
Fiscal Policy And The Business Cycle
Fiscal Policy And The Business CycleFiscal Policy And The Business Cycle
Fiscal Policy And The Business Cycle
 
Intro to Macroeconomics
Intro to MacroeconomicsIntro to Macroeconomics
Intro to Macroeconomics
 
Human Resources
Human ResourcesHuman Resources
Human Resources
 
Receivables
ReceivablesReceivables
Receivables
 
Intro to Macroeconomics
Intro to MacroeconomicsIntro to Macroeconomics
Intro to Macroeconomics
 
Human Resources
Human ResourcesHuman Resources
Human Resources
 
Market Structure
Market StructureMarket Structure
Market Structure
 
Internal Controls
Internal ControlsInternal Controls
Internal Controls
 

Kürzlich hochgeladen

Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Matthews Bantsijang
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklosbeduinpower135
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxOffice for National Statistics
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESKumarJayaraman3
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfMichael Silva
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?Stephen Perrenod
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismBrian Lin
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Commonwealth
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfAdnet Communications
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...mwangimwangi222
 
What Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AIWhat Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AI360factors
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingHenry Tapper
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxsonamyadav7097
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023SkillCircle
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfMichael Silva
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneurabcisahunter
 

Kürzlich hochgeladen (20)

Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
Remembering my Totem _Unity is Strength_ growing in Bophuthatswana_Matthews B...
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklos
 
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptxSlideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
Slideshare - ONS Economic Forum Slidepack - 18 March 2024.pptx
 
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTESACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
ACCOUNTING FOR BUSINESS.II BRANCH ACCOUNTS NOTES
 
Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdf
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?
 
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
 
Commercial Bank Economic Capsule - March 2024
Commercial Bank Economic Capsule - March 2024Commercial Bank Economic Capsule - March 2024
Commercial Bank Economic Capsule - March 2024
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
 
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...Solution manual for  Intermediate Accounting, 11th Edition by David Spiceland...
Solution manual for Intermediate Accounting, 11th Edition by David Spiceland...
 
What Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AIWhat Key Factors Should Risk Officers Consider When Using Generative AI
What Key Factors Should Risk Officers Consider When Using Generative AI
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB funding
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptx
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023
 
Stock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdfStock Market Brief Deck for March 26.pdf
Stock Market Brief Deck for March 26.pdf
 
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoRWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGecko
 
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an EntrepreneurIntroduction to Entrepreneurship and Characteristics of an Entrepreneur
Introduction to Entrepreneurship and Characteristics of an Entrepreneur
 

Adjusting Accounts