Monday, December 22, 2008

Four Types of Adjusting Entries

There are four main types of adjusting entries to be used in an accounting system.

Four types of adjusting entries:

  1. converting liabilities to revenue
  2. converting assets to expenses
  3. accruing unpaid expenses
  4. accruing uncollected revenues
Labels: ,

Complete Accounting Tutorial

Complete Accounting Tutorial
This download package includes explanations of 30 accounting topics, financial and managerial exams, cheat sheet, bookkeeping test, accounting puzzles, practice drills, Q&A, and an accounting dictionary.
The information on this site is for informational purposes only and should not be used as a substitute for the professional advice of an accountant, tax advisor, attorney, or other professional.