What is Adjustment?
Adjusting entries are made at what time?
End of the accounting period
Supplies (Asset or Expense Account) ?
Assets
Paying next year’s rent today is called what?
Prepaid Rent
Why do we make adjusting entries?
To update accounts before preparing financial statements
If beginning supplies are $500 and ending supplies are $200, how much was used?
300
If you prepaid $1,200 for 12 months, how much is used after 3 months?
(1,200 × 3/12 = 300)
كمل الاغنية:
خطفوني، عينيك خطفوني ......
ورموني في نار وسابوني
If beginning supplies are $500 and ending supplies are $200, how much was the remaining amount?
200
A business paid $2,400 for a 12-month rent on January 1. By the end of September, how much rent has expired (used)?
1800
asset expires or is used up, its value is recognized as an ...........
expense
كمل الاغنية:
نويت اجيب جمار والماس
واقول يا عشق فوسط الناس
واقضي ......
حبس لعبنا بالمال
If a company prepaid $600 for 6 months of insurance,
how much insurance has been used after 2 months?
200
كمل الاغنية:
أنا نجم بس ماليش .....
سما
If you bought $800 of supplies during the month and have $100 left, how much did you use?
700
كمل:
حد بقا يمشيني من هنا .......
اطلب الاوبر بقا