Adjusting and Collecting Entries

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4. Adjusting and Collecting Entries. . Annual. 1. 2. Semiannual. 1. 2. 3. 4. Quarter. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Month. Exh. 4.1. (Time Period). Not GAAP. Accounting. Accrual Basis Vs. Cash Basis. - PowerPoint PPT Presentation

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  • 4Adjusting and Collecting Entries

  • (Time Period)Exh.4.1

  • Accrual Basis Vs. Cash BasisAccrual Basis Cash Basis

  • (Recognizing Revenues and Expenses)

  • (Recognizing Revenues and Expenses) !!

  • (Matching)(Recognizing Revenues and Expenses)

  • Exh.4.4

  • ?? (Accrued Expenses)

  • Record adjustingjournal entry.. .. 45 10 .. 46 40,000

  • . .. 45 10 .. 46 40,000

    ]]]]]]]Sheet1

    GENERAL JOURNALPage 34

    DateDescriptionPRDebitCredit

    ..3140,000

    40,000

    &A

    Page &P

  • . .. 45 10 .. 46 40,000

    ]]]]]]]Sheet1

    GENERAL JOURNALPage 34

    DateDescriptionPRDebitCredit

    ..1040,000

    40,000

    .. 45

    &A

    Page &P

  • 12/26 50,00012/31 40,000 12/31 40,000. . .

  • ,

  • 50,000 . 60% 30,000 ( 31/12/44)

    ]]]]]]]Sheet1

    GENERAL JOURNAL

    DateDescriptionPRDebitCredit

    ..3130,000

    30,000

    &A

    Page &P

  • 6 AssetExpenseUnadjustedBalanceCreditAdjustmentDebitAdjustment

  • 2 1. ()2.

  • 1 12,000 1 .. 43 Dr. 12,000 Cr. 12,000.............

  • 1 ..31 ..28 .. 10 2 Dr. 2,000Cr. 2,000EXPA

  • 1 12,000 1 .. 43 Dr. 12,000 Cr. 12,000

  • 1 ..31 ..28 .. 10 2 Dr. 10,000Cr. 10,000EXPA

  • Chicago Blue !!!Go Big Blue

  • 1 .. 44 . 100 20 100 Dr. 10,000 Cr. 10,000.............

  • 31 2545 12 4 8 ??

  • 1 12 20 8Dr. 4,000Cr. 4,000RL 12

  • 1 .. 44 . 100 20 100 Dr. 10,000 Cr. 10,000.............

  • 1 12 20 8Dr. 6,000Cr. 6,000RL 12

  • Exh.4.18

    Sheet1

    TypeBalance Sheet AccountIncome Statement AccountAdjusting Entry

    Sheet2

    Sheet3

  • (Depreciation) - 1 - -

  • = - 100,000 10 20,000 Dr. -8,000Cr. -8,000

  • 31 2543 ---------------------------- 100,000 - 8,000 92,000

  • (Bad debt) 1 1. 2.

  • 5% 10,000 Dr. 500Cr. 500AExp

  • 31 254----------------------------20,000 500 19,500