Why are adjustment entries needed at the end of the period? Give four examples of adjustments that
Question:
Why are adjustment entries needed at the end of the period? Give four examples of adjustments that might be necessary.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Adjustment entries are necessary at the end of the period to ensure that the financial statements ac...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Accounting Information For Business Decisions
ISBN: 9780170253703
2nd Edition
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
QUIZ... Let D be a poset and let f : D D be a monotone function. (i) Give the definition of the least pre-fixed point, fix (f), of f. Show that fix (f) is a fixed point of f. [5 marks] (ii) Show that...
-
Suri recently took a job in the marketing department for All Access Cable Company. After just a few days on the job. After just a few days on the job, Suri learned that the company has many layers of...
-
Barrick Gold Corporation (CAN) is the world's most profitable and largest gold mining company outside South Africa. Part of the key to Barrick's success has been due to its ability to maintain cash...
-
A particle moves along the curved path shown. The particle has a speed v A = 12 ft/sec at time t A and a speed v B = 14 ft/sec at time t B . Determine the average values of the normal and tangential...
-
The procedure in Exercise 10.46 also calculates the chi square test for independence. Do Exercise 10.40 using the computer. Data From Exercise 10.46 Data From Exercise 10.40 10.46 A chi square test...
-
Your audit of the Watt Corporation discovers the following information: 1. Reconciled balance in First National Bank checking account .... $ 2,360.75 2. Reconciled balance in City National Bank...
-
A composite made of aluminum matrix with steel fibers is designed for carrying electrical power. Also, the electrical resistivity of aluminum is 50 x10^-7 Ohm.cm and that of steel is 400x10^-7...
-
At the beginning of the year, Thomas Lighting had total assets of \(\$ 78000\) and total liabilities of \(\$ 22000\). During the year, the total assets increased by \(\$ 16000\). At the end of the...
-
Each of the following cases is independent of the others. Required: Determine the amounts for A, B and C. Case 1 2 3 Assets A $ 95 000 $102 000 Liabilities $30 000 B $44 000 Owner's equity $62 000...
-
Graph the function f(x) = 60x 5 - 901x 3 + 27x in the window [-4, 4] [-10000, 10000]. How many extreme values do you see? Locate all the extreme values by analyzing f'.
-
A company had the following details related to a three-year note receivable on the date of issue: face value of note: $15,000 present value of the principal: $10,677 present value of the interest:...
-
Construct an entire function that has simple zeros at the Gaussian integers m + ni,
-
1. What types of power do you think are most important for a new CEO, especially if they are considered an "outsider"? 2. 3. Although it's not uncommon for new CEOs to rebuild their management team,...
-
Based on the learning materials, do you think children's poetry is important to the development of young children? Post your opinion to the class discussion board. Refer to a specific example of a...
-
What you learned and what you would do if faced with an active shooter incident. https://youtu.be/TVv1tSUKrD4 https://youtu.be/NE39wTxR8Ok https://youtu.be/V5_-5O5fGzY
-
How are cost of goods sold and gross profit computed?
-
You are standing at x = 9.0 km and your assistant is standing at x = 3.0 km. Lightning bolt 1 strikes at x = 0 km and lightning bolt 2 strikes at x = 12.0 km. You see the flash from bolt 2 at t = 10...
-
Below is an income statement for Rosies Flowers, prepared for internal management use. Required: Rewrite the income statement so that it is more useful for decision making. (Hint: There is a missing...
-
Complete the crossword puzzle below: Clues Across 2 Amount of uncertainty that exists about the future operations of a business 4 The V in CVP analysis 6 The amount provided by the sale of a product...
-
A business is considering two type of containers to package its product, one made of plastic and the other of biodegradable cardboard with native wild flower seeds embedded in the packaging, designed...
-
Is it feasible for a company to expand and increase profitability solely by utilizing profits generated internally, thus avoiding the need to acquire additional debt or equity capital?
-
The commissioner gives you some data that was collected on a sample of individuals between 1959- 1962, from the National Health Examination Survey (NHES). He asks you to describe the relationship...
-
QUESTION13.7 (Businesstaxpayer,repairs,carexpenses) Sybil,aresidentindividualtaxpayeraged29,operatesanantiquestore. Sybiliscoveredbyprivatehealthinsuranceandhasnotelectedtoapply any of the small...
Study smarter with the SolutionInn App