Adjustments are journalized before recording them in the worksheet.

Adjustments

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Worksheet

An informal document used by accountants to prepare adjusting journal entries and to support the preparation of financial statements.

Employ methods for journalizing adjustments that encompass unearned revenues and expenses related to supplies.

Verified Answer

Zybrea KnightJul 04, 2024

Final Answer :

False

Explanation :

Adjustments are typically recorded in the worksheet first to see their effect on the financial statements before they are journalized and posted to the ledger.

Learning Objectives

Employ methods for journalizing adjustments that encompass unearned revenues and expenses related to supplies.

Adjustments are journalized before recording them in the worksheet.

Definitions

Learning Objectives

Learning Objectives

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