Types of Adjusting Entries

[drnaga]

Adjusting Entries:​

Adjusting entries can be divided into five categories:
(1) Deferred (Prepaid) Expenses
(2) Depreciation of assets
(3) Accrued Expenses
(4) Accrued Revenues
(5) Deferred (Unearned) Revenues

Questions to ask yourself when doing adjusting entries:
(1) What is the current balance?
(2) What should the balance be?
(3) How much is the adjustment?

 

[jitendra05]

Adjusting Entries:​

Adjusting entries can be divided into five categories:
(1) Deferred (Prepaid) Expenses
(2) Depreciation of assets
(3) Accrued Expenses
(4) Accrued Revenues
(5) Deferred (Unearned) Revenues

Questions to ask yourself when doing adjusting entries:
(1) What is the current balance?
(2) What should the balance be?
(3) How much is the adjustment?

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