4 3 Record and Post the Common Types of Adjusting Entries Principles of Accounting, Volume 1: Financial Accounting
When the company recognizes the supplies usage, the following adjusting entry occurs. The unadjusted trial balance may have incorrect balances in some accounts. Recall the trial balance from Analyzing and Recording Transactions for the example company, Printing Plus. Why are Adjusting Entries Necessary? Manually creating adjusting entries every accounting period can get tedious and time-consuming…