Adjusting Entries : At the end of an accounting period, journal entries are passed to match the expenses with the revenues of that particular period; following the matching principle. Depreciation : Depreciation is the decline in the value of capital assets over a period of time in terms of its value as well as in quality due to wear and tear or we can say because of obsolescence. To Identify: Type of assets which require adjusting entries to record depreciation.

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Chapter 3, Problem 5DQ

To determine

Adjusting Entries:

At the end of an accounting period, journal entries are passed to match the expenses with the revenues of that particular period; following the matching principle.

Depreciation: Depreciation is the decline in the value of capital assets over a period of time in terms of its value as well as in quality due to wear and tear or we can say because of obsolescence.

To Identify: Type of assets which require adjusting entries to record depreciation.

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