adjusting entries

What Would Happen If Adjusting Entries Were Not Recorded?

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What Would Happen If Adjusting Entries Were Not Recorded? If the adjusting entry is not made, assets, owner’s equity, and net income will be overstated, and expenses will be understated. … Failure to do so will result in net income and owner’s equity being overstated, and expenses and liabilities being understated. Why is adjusting entries

What Is Not Justification For Adjusting Entries?

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What Is Not Justification For Adjusting Entries? Which one of the following is NOT a justification for adjusting entries? is NOT: Adjusting entries are necessary to bring the general ledger accounts in line with the budget. is: – Adjusting entries are necessary to ensure that the revenue recognition principle is followed. Which of the following