chp4 酒店财务会计调整分录.ppt

* f * a * B * c * B * D * B * a * Lottery,难计算的事C * C * B D J A * E h c f * I g 2. The basic of adjusting entries Summary Each adjusting entry affects one balance sheet account and one income statement account. Impact on Financial statement of Failure to Prepare Adjustment Type of Adjustment Example Assets Liability Owners’ equity Revenue Expense Net Income Prepaid Expense Depreciation over none over none under over Unearned Revenue Advanced Deposits none over under under none under Accrual Expense Wages Accrual none under over none under over Accrual Revenue Accrued Interest Receivable under none under under none under Impact on Financial statement of Failure to Prepare Adjustment Type of Adjustment Example Assets Liability Revenue Expense Prepaid Expense Depreciation Over Cr. none none Under Dr. Unearned Revenue Advanced Deposits none Over Dr. under Cr. none Accrual Expense Wages Accrual none Under Cr. none Under Dr. Accrual Revenue Accrued Interest Receivable Under Dr. none Under Cr. none 3. Adjusted Trial Balance After all adjusting entries have been journalized and posted an adjusted trial balance is prepared. This trial balance shows the balances of all accounts, including those that have been adjusted, at the end of the accounting period. The purpose of an trial balance is to prove the equality of the total debit balances and the total credit balances in the ledger. The accounts in the adjusted trial balance contain all Data that are needed for the preparation of financial statements. Exercise True or False 1. Monthly and quarterly time periods are commonly referred to as fiscal periods. 2.Payments of expenses that will benefit more than one accounting period are referred to as prepaid expenses. True or False 3. Cost less accumulated depreciation is a measurement of the current value of an asset such as equipment or a building. 4.A contra-asset account is an account whose balance is deducted from a related asset in the financial statements. True or False