Adjusting entries : Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition principle, and expenses recognition principle. The purpose of adjusting entries is to adjust the revenue, and the expenses during the period in which they actually occurs. T-account: T-account refers to an individual account, where the increases or decreases in the value of specific asset, liability, stockholder’s equity , revenue, and expenditure items are recorded. This account is referred to as the T-account, because the alignment of the components of the account resembles the capital letter ‘T’.’ An account consists of the three main components which are as follows: (a) The title of the account (b) The left or debit side (c) The right or credit side To prepare: The journal entry , adjusted journal entry, and post the journal entries to T-accounts of company L.

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Chapter 4, Problem 4.6BE

To determine

Adjusting entries:

Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition principle, and expenses recognition principle. The purpose of adjusting entries is to adjust the revenue, and the expenses during the period in which they actually occurs.

T-account:

T-account refers to an individual account, where the increases or decreases in the value of specific asset, liability, stockholder’s equity, revenue, and expenditure items are recorded.

This account is referred to as the T-account, because the alignment of the components of the account resembles the capital letter ‘T’.’ An account consists of the three main components which are as follows:

(a) The title of the account

(b) The left or debit side

(c) The right or credit side

To prepare: The journal entry, adjusted journal entry, and post the journal entries to T-accounts of company L.

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Juan Leon Martinez posted Apr 7, 2025 11:25 AM Subscribe Hello everyone, Esteban is not performing in a professional manner in this scene. In fact, he is showing extreme unprofessional manners and unethical work ethic. Under no circumstance should he be using a company's tools or assets for his own benefit. You can also see he is trying not to get caught by any upper management due to him doing these actions after hours of work. As a manager, a great change I would do differently to make sure Esteban is not using the company's assets for their own benefit, would be coachings and sit down conversations. A sit down conversation can have the employee get an idea on how bad his actions are towards the company. This disciplinary of a coaching would be a written down statement from both manager and employee stating that he or she understands the actions they have done, which could lead to suspension or possibly termination. These unethical actions could lead to a great deal of financial loss…

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