Adjusting Entries

Слайд 1The Accounting Cycle: Accruals and Deferrals
Chapter 4

Слайд 2Adjusting Entries

Слайд 3 Accruing unpaid expenses
Converting liabilities to revenue
Accruing uncollected revenue
Types

of Adjusting Entries

Converting assets to expenses

Слайд 4Prior Periods
Current Period
Future Periods
Transaction
Paid cash in advance of incurring expense
(creates an

asset).

End of Current Period

Converting Assets to Expenses

Слайд 5
Jan. 1
Dec. 31
$2,400 Insurance Policy Coverage for 12 Months

$200 Monthly Insurance

Expense

On January 1, Webb Co. purchased a one-year insurance policy for $2,400.

Converting Assets to Expenses

Слайд 6Initially, costs that benefit more than one accounting period are recorded

as assets.

Converting Assets to Expenses

Слайд 7The costs are expensed as they are used to generate revenue.
Converting

Assets to Expenses

Слайд 8Income Statement
Cost of assets used this period to generate revenue.
Balance Sheet
Cost

of assets that benefit future periods.

Converting Assets to Expenses

Adjusting Entries презентация

Содержание

Слайд 1The Accounting Cycle: Accruals and Deferrals
Chapter 4

Слайд 2Adjusting Entries

Слайд 3 Accruing unpaid expenses
Converting liabilities to revenue
Accruing uncollected revenue
Types

Слайд 4Prior Periods
Current Period
Future Periods
Transaction
Paid cash in advance of incurring expense
(creates an

Слайд 5
Jan. 1
Dec. 31
$2,400 Insurance Policy Coverage for 12 Months

$200 Monthly Insurance

Слайд 6Initially, costs that benefit more than one accounting period are recorded

Слайд 7The costs are expensed as they are used to generate revenue.
Converting

Слайд 8Income Statement
Cost of assets used this period to generate revenue.
Balance Sheet
Cost

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Что такое ThePresentation.ru?

Adjusting Entries презентация

Содержание

Слайд 1The Accounting Cycle: Accruals and DeferralsChapter 4

Слайд 2Adjusting Entries

Слайд 3 Accruing unpaid expenses Converting liabilities to revenue Accruing uncollected revenueTypes

Слайд 4Prior PeriodsCurrent PeriodFuture PeriodsTransactionPaid cash in advance of incurring expense(creates an

Слайд 5Jan. 1Dec. 31$2,400 Insurance Policy Coverage for 12 Months$200 Monthly Insurance

Слайд 6Initially, costs that benefit more than one accounting period are recorded

Слайд 7The costs are expensed as they are used to generate revenue.Converting

Слайд 8Income StatementCost of assets used this period to generate revenue.Balance SheetCost

Похожие презентации

Обратная связь

Что такое ThePresentation.ru?

Слайд 1The Accounting Cycle: Accruals and Deferrals
Chapter 4

Слайд 3 Accruing unpaid expenses
Converting liabilities to revenue
Accruing uncollected revenue
Types

Слайд 4Prior Periods
Current Period
Future Periods
Transaction
Paid cash in advance of incurring expense
(creates an

Слайд 5
Jan. 1
Dec. 31
$2,400 Insurance Policy Coverage for 12 Months

$200 Monthly Insurance

Слайд 7The costs are expensed as they are used to generate revenue.
Converting

Слайд 8Income Statement
Cost of assets used this period to generate revenue.
Balance Sheet
Cost