1. LESSON 16-1 Recording Adjusting Entries
6/22/2018
LESSON 16-1
Recording Adjusting Entries
Adjusting entries recorded from a work sheet
Adjusting entries
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2. Competency: Understanding the Accounting Cycle for a Merchandising Business
Objectives:
68 Prepare to close temporary accounts for a merchandising business
69 Journalize adjusting and closing entries for a merchandising business
70 Prepare post-closing trial balance for a merchandising business
LESSON 16-1

3. ADJUSTING ENTRIES RECORDED FROM A WORK SHEET
page 480
1. Heading
2. Date 3
3. Identify the first adjustment
4. Account debited
5. Debit
6. Account credited
7. Credit
8. Continue down the Adjustments columns 2 1 4 6 5 7
LESSON 16-1

4. ADJUSTING ENTRY FOR ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS
page 482
LESSON 16-1

5. ADJUSTING ENTRY FOR MERCHANDISE INVENTORY
page 482
LESSON 16-1

6. ADJUSTING ENTRY FOR SUPPLIES—OFFICE
page 483
LESSON 16-1

7. ADJUSTING ENTRY FOR SUPPLIES—STORE
page 483
LESSON 16-1

8. ADJUSTING ENTRY FOR PREPAID INSURANCE
page 484
LESSON 16-1

9. ADJUSTING ENTRY FOR DEPRECIATION—OFFICE EQUIPMENT
page 484
LESSON 16-1

10. ADJUSTING ENTRY FOR DEPRECIATION—STORE EQUIPMENT
page 485
LESSON 16-1

11. ADJUSTING ENTRY FOR FEDERAL INCOME TAXES
page 485
LESSON 16-1