Junior Accountant Question: Download Junior Accountant PDF

Explain what is the adjustment entries made while preparing the final accounts from the Trial Balance?

Answer:

☛ Closing Stock
☛ Depreciation
☛ Outstanding Expenses
☛ Prepaid Expenses
☛ Accrued Income
☛ Income received in advance
☛ Bad Debits
☛ Provision for Doubtful Debts
☛ Provision for Discount on Debtors
☛ Interest on Capital
☛ Drawings
☛ Deferred Revenue Expenditure Written off
☛ Abnormal Loss due to fire etc.
☛ Goods distributed as free samples
☛ Goods sent on approval basis
☛ Commission payable to the manager

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