Home › Enrolled Agent (SEE) › Accounting › Adjusting Entries › Entries made at period end to record transaction…
Entries made at period end to record transactions not yet captured are called:
AAdjusting entries
BAssigning entries
CAssessing entries
DAssembling entries
Answer & Solution
Correct answer: A. Adjusting entries
1. Some events leave no invoice or receipt at the time.
2. The books must be brought up to date before reporting.
3. Those corrections are adjusting entries.
_Source: OpenStax Principles of Financial Accounting, Chapter 4, The Adjustment Process._
Related questions
A trial balance is prepared before adjustments, after adjustments and after:A contra asset account such as Accumulated Depreciation increases with a:Cash received in January for printing to be done later was recorded by the company as a:An accountant should remember that the book value of an asset is not necessarily its:Book value of equipment is found by taking original cost and subtracting accumulated:Accumulated Depreciation sits against an asset account, so its normal balance is on the:Spreading the cost of equipment systematically across the periods it serves is called:Salaries earned by staff but unpaid at period end are an example of accrued: