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ADJUSTING ENTRIES RECORDED IN A JOURNAL

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Presentation on theme: "ADJUSTING ENTRIES RECORDED IN A JOURNAL"— Presentation transcript:

1 ADJUSTING ENTRIES RECORDED IN A JOURNAL
Lesson 17-1 ADJUSTING ENTRIES RECORDED IN A JOURNAL 2 1 4 3 5 6 1. Heading 4. Debit 2. Date 5. Account Credited 3. Account Debited 6. Credit Lesson 17-1, page 422

2 PARTIAL WORK SHEET SHOWING ADJUSTMENTS
Lesson 17-1, page 423

3 ADJUSTING ENTRY FOR MERCHANDISE INVENTORY
AFTER ADJUSTMENT BEFORE ADJUSTMENT Income Summary Adj. (a) 15,840.00 Merchandise Inventory Bal. 270,480.00 Bal. 270,480.00 Adj. (a) 15,840.00 (New Bal. 254,640.00) Lesson 17-1, page 423

4 ADJUSTING ENTRY FOR OFFICE SUPPLIES INVENTORY
AFTER ADJUSTMENT BEFORE ADJUSTMENT Supplies Expense—Office Adj. (b) 4,730.00 Supplies Expense—Office Bal. 6,480.00 Bal. 6,480.00 Adj. (b) 4,730.00 (New Bal. 1,750.00) Lesson 17-1, page 424

5 ADJUSTING ENTRY FOR STORE SUPPLIES INVENTORY
AFTER ADJUSTMENT BEFORE ADJUSTMENT Supplies Expense—Store Adj. (c) 3,910.00 Supplies Expense—Store Bal. 6,944.00 Bal. 6,944.00 Adj. (c) 3,910.00 (New Bal. 3,034.00) Lesson 17-1, page 424

6 ADJUSTING ENTRY FOR PREPAID INSURANCE
AFTER ADJUSTMENT BEFORE ADJUSTMENT Insurance Expense Adj. (d) 3,170.00 Prepaid Insurance Bal. 5,800.00 Bal. 5,800.00 Adj. (d) 3,170.00 (New Bal. 2,630.00) Lesson 17-1, page 424


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