ACCT 210 Useful File Notes, Fall 2018

American University of Beirut · Financial Accounting · 2 pages

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ACCT 210 Useful File Notes, Fall 2018, page 1

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ACCT 210 Useful File Notes, Fall 2018, page 2

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Adjusting Entries Adjusting entries: Affect at least one income statement account. Affect at least one balance sheet account. Adjustments Deferrals Prepaid Expenses Exp. xx Prepaid xx Depreciation Expense Depr. exp xx Accum. depr. xx Unearned Revenues URev. xx Revenue xx Accruals Accrued Expenses Expense xx Liability xx Accrued Revenues Receivable xx Revenue xx Unrecorded Unpaid/not yet received Result from prepayments Made/received