PPT-Chapter 8 Recording Adjusting and Closing Entries for a Service Business

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. Recording Adjusting Entries. 2. LESSON 16-1. ADJUSTING ENTRIES RECORDED FROM A WORK SHEET. 3. page 480. 2. 1. 4. 5. 6. 7. 1. Heading. 2. Date. 3. Identify the first adjustment. 4. Account debited. 5. Debit. 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.. – Monday, 6 April 201 5 (12.00 pm) ENTRY TO AND PARTICIPATION IN Q SCHOOL 201 5 SHALL BE CONDITIONAL UPON PAYMENT OF THE REQUIRED ENTRY FEE AND COMPLIANCE WITH THE FOLLOWING TERMS & CONDITIO 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:. Sound recording practice. Example 1. Give the following fields:. Title. Publication information. Physical description. Publishers’/standard numbers. What do you think is the main entry?. ℗1967 Verve Records. 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 . Nancy . Lorimer. , Stanford University. Scope. Recorded music. AACR2 Chapter 6 & parts of Chapter 21. Only music recordings covered, not spoken word. Only 4 ¾ in. discs (CDs, SACDs, DVD-audio), with some mention of other types. 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. Dialectical Journal. While . reading the text, readers can engage in a double-entry note-taking process. Two columns are in dialogue with each other. In the left-hand column, readers select and copy down a passage that they find intriguing, puzzling, or illuminating in some way. In the right-hand column, they record thoughts and feelings that come to mind, thinking out loud on paper. The right column is a place to reflect on what you already know, ask questions, make predictions, make connections, revise meaning, and evaluate. Below is an example of what it looks like. . 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. 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 . The . Perfect World. Of . Real Estate. Why Real Estate?. What Do You Expect From This Session Today?. “Begin with the End in Mind!”. “A Goal without a Plan is Just A Wish!”. Have a back up income source or 6 months reserve..