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In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting .
The source documents for general journal entries may be journal vouchers, copies of management reports and invoices. Journals are prime entry books, and may also be referred to as books of original entry , from when transactions were written in a journal before they were manually posted to accounts in the general ledger or a subsidiary ledger.
Closing entries are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts. An "income summary" account may be used to show the balance between revenue and expenses , or they could be directly closed against retained earnings where dividend payments will be deducted from.
They usually include payables such as wages, accounts, taxes, and accounts payable, unearned revenue when adjusting entries, portions of long-term bonds to be paid this year, and short-term obligations (e.g. from purchase of equipment). Current liabilities are obligations whose liquidation is reasonably expected to require the use of current ...
Syringes prepared with medications that are expected to be used during an operation under general anaesthesia maintained by sevoflurane gas: - Propofol, a hypnotic - Ephedrine, in case of hypotension - Fentanyl, for analgesia - Atracurium, for neuromuscular block - Glycopyrronium bromide (here under trade name Robinul), reducing secretions
Tesla and X CEO Elon Musk spent over a quarter of a billion dollars to help get President-elect Donald Trump back in the White House, according to newly released campaign finance records. The ...
Family members of the Menendez brothers plan to meet with newly elected Los Angeles County District Attorney Nathan Hochman on Friday, Jan. 3, to push for a reduced sentence for the pair.
This 30-minute indoor walking workout is low-impact, torches calories, beginner-friendly, perfect for staying active year-round, and ideal for women over 50.