Which of the following is not a purpose of adjustingentries?

To prepare the revenue and expense accounts for recordingtransactions of the following period.

To apportion the proper amounts of revenue and expense to thecurrent accounting period.

To establish the proper amounts of assets and liabilities in thebalance sheet.

To accomplish the objective of offsetting the revenue of theperiod with all the expenses incurred in generating thatrevenue.

Answer rating: 100% (QA)

Option A is the correct answer The purpose of adjusting entries is to record certain transactions and events that have occurred during the accounting ... View the full answer