Class Notes (836,521)
Canada (509,851)
Langara College (1,809)
FMGT 1116 (41)
E.Hamer (38)
Lecture

Adjusting Entries.docx

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Department
Financial Management
Course
FMGT 1116
Professor
E.Hamer
Semester
Winter

Description
Adjusting Entries  journal entries o made at the end of an accounting time period (usually) o PURPOSE: to assign the incomes of that time period  based on: o accrual basis o revenues  required to guarantee that the revenue and expense gratitude criteria are followed o in order for it to be successful, the right amounts of assets, liabilities and the owner’s equity written down on this report  known as the balance sheet  are known under prepayments and accumulations o prepayments include:
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