Lesson 3 Discussion
Explain the revenue recognition principle and the matching principle. Differentiate between the cash basis and the accrual basis of accounting.
Explain why adjusting entries are needed and identify the major types of adjusting entries.
Adjusting entries are first entered into the general journal, and then they are posted to the individual ledger accounts. A second trial balance (the adjusted trial balance) is prepared to prove that debits and credits are still equal after the accounts have been adjusted.
The financial statements are prepared from the adjusted trial balance.
“WE’VE HAD A GOOD SUCCESS RATE ON THIS ASSIGNMENT. PLACE THIS ORDER OR A SIMILAR ORDER WITH HOMEWORK AIDER AND GET AN AMAZING DISCOUNT”
The post ACCT 2301-Revenue recognition and matching principle. appeared first on Homeworkaider.
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but you proved you are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 11***| Rating: ⭐⭐⭐⭐⭐
"This company is the best there is. They saved me so many times, I cannot even keep count. Now I recommend it to all my friends, and none of them have complained about it. The writers here are excellent."
"Order a custom Paper on Similar Assignment at essayfount.com! No Plagiarism! Enjoy 20% Discount!"
