Concept explainers
1)
Adjusting Journal:
Accounts are debited to increase balances of assets and expenses and credited increase the balance of incomes and liabilities
To prepare:
The adjusting journal entries as on 30 November 2018
2)
A trial Balance is a list of the balances of various Assets, Liabilities, Expense and Revenue Accounts. It helps in evaluating the arithmetical accuracy of financial transactions and postings during a reporting period and serves as the starting point in the preparation of financial statements.
To prepare:
Adjusted Trial Balance as on 30 November 2018
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Horngren's Accounting, Student Value Edition (12th Edition)
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