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  • Adjusting Entries Summary

    Uploaded by

    Gem Yiel
    14 views3 pages
    The document outlines where various accruals, deferrals, prepayments and accounts would be recorded on a company's balance sheet and income statement. Accrued income and expenses are recorded as current assets and liabilities. Prepayments are recorded as either current or non-current assets depending on their duration. Deferrals are recorded as either current or non-current liabilities, or income depending on their nature.

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    Original Title

    Adjusting entries summary

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    The document outlines where various accruals, deferrals, prepayments and accounts would be recorded on a company's balance sheet and income statement. Accrued income and expenses are recorded as current assets and liabilities. Prepayments are recorded as either current or non-current assets depending on their duration. Deferrals are recorded as either current or non-current liabilities, or income depending on their nature.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    14 views3 pages

    Adjusting Entries Summary

    Uploaded by

    Gem Yiel
    The document outlines where various accruals, deferrals, prepayments and accounts would be recorded on a company's balance sheet and income statement. Accrued income and expenses are recorded as current assets and liabilities. Prepayments are recorded as either current or non-current assets depending on their duration. Deferrals are recorded as either current or non-current liabilities, or income depending on their nature.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    Acc

    ount

    Accr
    ued
    Inco
    me
    Accr
    ued
    Exp
    ens
    e
    Prepay
    men
    t
    (Ass
    et)
    Prepay
    men
    t
    (Exp
    ens
    e)
    Def
    erra
    l
    (Lia
    bilit
    y)
    Def

    Cu
    rr
    en
    t
    As
    se
    t

    No
    nCu
    rr
    en
    t
    As
    se
    t
    N
    E

    Cur
    ren
    t
    Lia
    bili
    ties

    No
    nCur
    ren
    t
    Lia
    bili
    ties

    E
    q
    ui
    ty

    In
    co
    m
    e

    Ex
    pe
    ns
    e

    N
    et
    In
    co
    m
    e

    NE

    NE

    NE

    N
    E

    N
    E

    NE

    N
    E

    N
    E

    NE

    NE

    N
    E

    N
    E

    NE

    NE

    N
    E

    N
    E

    N
    E

    NE

    NE

    NE

    NE

    erra
    l
    (Inc
    ome
    )

    Account

    Account

    Accrued
    Income
    Accrued
    Expense
    Prepaymen
    t
    (Asset)
    Prepaymen
    t
    (Expens
    e)
    Deferral
    (Liability
    )
    Deferral
    (Income
    )

    Accrued
    Income
    Accrued
    Expense
    Prepayment
    (Asset)
    Prepayment
    (Expense)
    Deferral
    (Liability)
    Curre
    Deferral Nonnt
    Curre
    (Income)
    Asset
    nt

    Current
    Asset

    Current
    Liabilities

    NonCurrent
    Asset
    NE

    Equity

    Income

    Expense

    Net
    Income

    NE

    NonCurrent
    Liabilities
    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    Curren
    NE
    t
    Liabiliti
    es

    Asset
    NE

    NE

    NonNE
    Curren
    t
    Liabiliti
    es
    NE

    EquiU
    ty

    Inco
    me

    Expen
    NE
    se

    Net
    O
    Inco
    me

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

    NE

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