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College Accounting
John Price, University of North Texas
M. David Haddock, Chattanooga State Technical Comm. College
Horace Brock, University of North Texas
Connie Hahn, Southern Alberta Institute of Technology
Traven Reed, Canadore College
Adjusting Entries and Completing the Worksheet

Learning Objectives

Describe the principles underlying the accrual basis of accounting.

Compute and journalize adjustments for accrued and prepaid expenses.

Compute and journalize adjustments for accrued and deferred revenues.

Complete a 10-column worksheet.

Prepare an income statement, statement of owner's equity, and balance sheet from the completed worksheet.




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