May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Objectives
(continued)
PREPAID EXPENSES
(concluded)
Types of Accounts Requiring Adjustment
(continued)
UNEARNED
REVENUES
(concluded)
Types of Accounts Requiring Adjustment
(continued)
ACCRUED
REVENUES
(concluded)
Types of Accounts Requiring Adjustment
(continued)
ACCRUED EXPENSES
(concluded)
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
ADJUSTING ENTRIES
ADJUSTING ENTRIES
Prepaid Expenses
decrease
Prepaid Insurance
decrease
Impact of Omitting Adjusting Entries
Unearned Revenues
increase
decrease
Impact of Omitting Adjusting Entry
Accrued Revenues
increase increase
Impact of Omitting Adjusting Entry
Accrued Expenses: Accrued Wages
Accrued Wages
increase increase
Accrued Wages
increase
increase
Depreciation Expense
(continued)
SUMMARY OF
ADJUSTMENT
PROCESS
(continued)
SUMMARY OF
ADJUSTMENT
PROCESS
(continued)
SUMMARY OF
ADJUSTMENT
PROCESS
(continued)
SUMMARY OF
ADJUSTMENT
PROCESS
(concluded)
ADJUSTING ENTRIES
ADJUSTING ENTRIES
LEDGER WITH
ADJUSTING ENTRIES
(continued)
LEDGER WITH
ADJUSTING
ENTRIES
LEDGER WITH
ADJUSTING ENTRIES
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.
Adjusted Trial Balance
$12,500
= .067 or 6.7%
$187,500
Vertical Analysis
$3,000
= .02 or 2%
$150,000
c. 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.