ПРОВОДКА БУХГАЛТЕРСКАЯ ИСПРАВИТЕЛЬНАЯ
English translation: adjustment entry
| 06:58 Oct 25, 2011 |
| Russian to English translations [PRO] Bus/Financial - Accounting | ||||
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|  Selected response from: Zoryana Dorak Ukraine Local time: 10:58 | |||
Grading comment
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| Summary of answers provided | ||||
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| 4 +2 | adjustment entry |
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| 3 +1 | correction entry |
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| 3 | accounting correcting entry |
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| Summary of reference entries provided | |||
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| on difference between adjusting and correcting entries |
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Answers
5 mins confidence: 
peer agreement (net): +1
peer agreement (net): +1correction entry Explanation: . |
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58 mins confidence: peer agreement (net): +2
peer agreement (net): +2adjustment entry Explanation: adjustment entry |
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Grading comment
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11 hrs confidence:
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3 hrs peer agreement (net): +1 |
| Reference: on difference between adjusting and correcting entries Reference information: Adjusting journal entry is 1. necessary entry at the end of the reporting period to record unrecognized revenue and expenses applicable to that period. It is required when a transaction is begun in one accounting period and concluded in a later one. An adjusting entry always involves an income statement account (revenue or expense) and a balance sheet account (asset or liability). The four basic types of adjusting entries relate to accrued expenses, accrued revenue, prepaid expenses, and unearned revenue. 2. correcting entry required at the end of the accounting period due to a mistake made in the accounting records; also called correcting entry. For example, if during the same year land was charged instead of travel expense, the correcting entry is to debit travel expense and credit land. Barron's Accounting Dictionary: Adjusting Journal Entry |
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