Financial Statements, Adjustments, and Interpretations Notes.pdf

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Department
Accounting
Course
ACCT 1201
Professor
Ganesh Krishnamoorthy
Semester
Spring

Description
Deferred RevenueUnearned Revenue Deferred ExpensesPrepaid ExpensesAdjusting entry accountsunearned revenue revenueinterest receivable interest revenueinsurance expense prepaid insurancewages payable wages expensedepreciation expense accumulated depreciationMake adjusting entries whenever giving financial statements to someoneinvestors outside the company contraasset opposite of an asset account Accumulated Depreciation Adjusting Entries does not affect cashalways affects either a revenue or expense accountalways affect an asset or liability accountClosing Entriesdebit revenue accountscredit retained earningscredit all expensesSECSecurities and Exchange Commission FASBFinancial Accounting Standards BoardAccounting Standards PCAOBPublic Company Accou
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