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Adjusting the Trial Balance and Adjusting Entries

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This Microsoft Power Point contains detail step by step information about each topic. Calculations and journal entries are included. The following topics are covered:

What is accrual-basis accounting?
What is cash-basis accounting?
What is the time period assumption?
What is the revenue recognition principle
What is the matching principle?
What are the basics of recording adjusting entries?
What are deferrals and accruals?
How are adjusting entries recorded for deferrals and accruals?
What is an adjusted trial balance and how are financial statements prepared from it?

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Solution Summary

This solution contains a Power Point presention consisting of 45 slides which contains detail information on the topic "Adjusting Entries" and also demonstrates how the adjusted trial balance is used to prepare financial statements.

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