会计学原理 英文版 第21版 第三章 Adjusting Accounts and Preparing Financial Statements.pptVIP

Adjusting Accounts and Preparing Financial Statements;The Accounting Period;Accounting;Cash Basis Revenues are recognized when cash is received and expenses are recorded when cash is paid.;Accrual Basis versus Cash Basis;Accrual Basis versus Cash Basis;We have delivered the product to our customer, so I think we should record the revenue earned.;Recognizing Revenues and Expenses; An adjusting entry is recorded to bring an asset or liability account balance to its proper amount.;Here is the check for my 24-monthinsurance policy.;Prepaid Insurance;Supplies;Other Prepaid Expenses;Straight-Line D