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Why is it important that companies make adjusting journal entries?
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
What is an adjusting entry?
journal entries recorded to update general ledger accounts at the end of a fiscal period. it is made to prevent or correct errors that may happen in the system. To see how to make an adjusting entry, visit: http://www.accounting7.com/content/exercise-adjusting-account-entries-accounting
How do you make Journal entry for recording Letter of Credit goods?
L/C related all journal entries
Why is it important for a company to make adjusting journal entries?
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
How do you make service tax entries?
i need your help about entries of service tax, optional voucher, journal voucher, memo vouchers in tally 7.2
How journal entries be meaningful?
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
What journal entries do you make for your construction loan?
My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account? roger_randolph@yahoo.com
How can journal entries meaningful?
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
How do you record a journal entry in QuickBooks?
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
Why is the journal necessary in accounting?
Journal's are an important element in terms of accounting.It is said so because the journal records and shows the transactions made by the firm during a particular year.journal is the book where they record the primary and first handed entries.It is from this journal entries they make other entries in the book of ledger,trial balance..etc..If any entry in the journal goes wrong then the whole matter will go wrong.....All the best....keep gionging.....
What does correcting entry mean on a bank statement?
Accountants make correcting entries when they find errors. There are two ways to make correcting entries: reverse the incorrect entry and then use a second journal entry to record the transaction correctly, or make a single journal entry that, when combined with the original but incorrect entry, fixes the error.Adjusting entries should not be confused with correcting entries, which are used to correct an error. That should be done separately from adjusting entries, so there is no confusion between the two, and a clear audit trail will be left behind in the books and records documenting the corrections.
How can be journal be meaningful?
you can make your journal entries meaningful by really writing down your feelings.it doesn't matter if it's good or bad because by making it personal it will be meaningful.you could also include
