The events that compel accountants to record standard journal entries are daily activities linked to a business’s operations, such as buying things, paying salaries, making sales, performing and providing services, and incurring other expenses. An event that triggers an accountant to adjust entries can be a small change in the general ledger account balances. Ultimately, adjusting entries is used to ensure the ledger is updated correctly to reflect financial changes that occur as time goes on and have not been recorded in regular journal entries. Adjusting entries are essential for a business because they update every account balance prior to preparing financial statements.
Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period.
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Academic.Tips. (2023) 'Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period'. 12 February.
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Academic.Tips. (2023, February 12). Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period. https://academic.tips/question/which-events-during-an-accounting-period-trigger-the-recording-of-normal-journal-entries-and-which-event-triggers-the-making-of-adjusting-entries-please-explain-why-adjusting-entries-are-necessary-a/
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Academic.Tips. 2023. "Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period." February 12, 2023. https://academic.tips/question/which-events-during-an-accounting-period-trigger-the-recording-of-normal-journal-entries-and-which-event-triggers-the-making-of-adjusting-entries-please-explain-why-adjusting-entries-are-necessary-a/.
1. Academic.Tips. "Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period." February 12, 2023. https://academic.tips/question/which-events-during-an-accounting-period-trigger-the-recording-of-normal-journal-entries-and-which-event-triggers-the-making-of-adjusting-entries-please-explain-why-adjusting-entries-are-necessary-a/.
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Academic.Tips. "Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period." February 12, 2023. https://academic.tips/question/which-events-during-an-accounting-period-trigger-the-recording-of-normal-journal-entries-and-which-event-triggers-the-making-of-adjusting-entries-please-explain-why-adjusting-entries-are-necessary-a/.
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"Which events during an accounting period trigger the recording of normal journal entries, and which event triggers the making of adjusting entries? Please explain why adjusting entries are necessary at the end of an accounting period." Academic.Tips, 12 Feb. 2023, academic.tips/question/which-events-during-an-accounting-period-trigger-the-recording-of-normal-journal-entries-and-which-event-triggers-the-making-of-adjusting-entries-please-explain-why-adjusting-entries-are-necessary-a/.
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