PPT-Adjusting Entries for Merchandisers

ZMarts Merchandise Inventory account at the end of year 2013 has a balance of 21250 but a physical count reveals that only 21000 of inventory exists P3 A merchandiser using a perpetual inventory system is usually required to make an adjustment to update the Merchandise Inventory account to reflect any loss of merchandise including theft and deterioration. Training Session. For . Year End 2014. Presented by:. Finance . and . Accounting. General Accounting. Agenda. 3. Agenda. Discuss the detailed steps required for preparing and submitting financial statements for auxiliaries, including:. Chapter 3. 1. Adjusting Attack. 2. Accrual versus cash-basis accounting & key elements of accrual accounting. Adjusting entries, why, what, how. Using the worksheet. to facilitate the process. Accrual versus cash-basis accounting. Understand basic accounting terminology.. Explain double-entry rules.. Explain how transactions affect the accounting equation.. Identify the steps in the accounting cycle and the steps in the recording process.. D. D. . Sleator. and R. E. . Tarjan. | AT&T Bell Laboratories. Journal of the ACM . | Volume 32 | Issue 3 | Pages 652-686 | 1985. Presented By: . James A. Fowler, Jr. | November 30, 2010. George Mason University | Fairfax, Virginia. Training Session. For Fiscal Year . 2010-2011. Presented by:. Finance . and . Accounting. General Accounting. Agenda. 3. Agenda. Discuss the detailed steps required for preparing and submitting financial statements for auxiliaries, including:. 1: . Kaitlyn. Strand (Varsity). 2: . Monali. . Bhakta. (Varsity). Discussion (6 entries). 3: . C.Andalkovil. (Varsity). 4: . Gautham. Nair (Varsity). 5: . Himani. Joshi (Varsity). 6: . Koushik. LO. 8. . Journalize and post the adjusting entries for supplies and prepaid insurance.. Adjusting Entry for Supplies. Journal entries recorded to update general ledger accounts at the end of a fiscal period are called . Accounting . February 2014. Warm Up. The Walt Disney Company. What do you think of when you hear the word DISNEY?. How many of you think of the environment when you hear the word Disney?. Warm Up. Unearned Revenue. Receipt of cash that is recorded as a liability because the revenue has not been earned.. Adjusting Entries for “Unearned Revenues”. rent. airline tickets. school tuition. Cash Receipt. D. D. . Sleator. and R. E. . Tarjan. | AT&T Bell Laboratories. Journal of the ACM . | Volume 32 | Issue 3 | Pages 652-686 | 1985. Presented By: . James A. Fowler, Jr. | November 30, 2010. George Mason University | Fairfax, Virginia. Accruals. Made to record:. . Revenues earned and . . OR. Expenses incurred . in the current accounting period that have not been recognized through daily entries.. Adjusting Entries for Accruals. Financial & Managerial Accounting Information for Decisions Seventh Edition Chapter 3 Adjusting Accounts For Financial Statements © McGraw-Hill Education. All rights reserved. Authorized only for instructor use in the classroom. No reproduction or further distribution permitted without the prior written consent of McGraw-Hill Education. Adjusting Entries . purpose of adjusting entries.. Prepaid expenses.. Unearned revenue.. Accrued expenses.. Accrued revenue.. T. he . purpose of adjusting entries. For . purposes of measuring income and preparing financial statements, the life of a business is divided into a series of accounting periods This practice enables decision makers to company, the financial statements of successive periods and to identify significant trends. But measuring net income for a relatively short accounting period such as a month even a year poses a . Book by Bulmash