adjusting entry

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  • noun

Words related to adjusting entry

an accounting entry made at the end of an accounting period to allocate items between accounting periods

References in periodicals archive ?
Cash Investment in Growing Crops 3,000 Change in Investment in Growing Crops 3,000 4-5 * For each of the multiple choice questions below, select the appropriate adjusting journal entry that would be recorded at the end of the year (December 31).
However, in cases where an adjusting journal entry would normally be made to the "inventory short/over" account, the "cost of goods sold" account should be used instead.
In this case, an adjusting journal entry might be proposed.
Accordingly, if I make a mistake entering an item into my general ledger, I must then make an "adjusting journal entry" in order to correct the error.
Using journal entries, they would record the following adjusting journal entry before preparing financial statements.