4 Supplies, Unearned Revenue, and Wages Adjusting Entries

Financial Accounting #2: Adjusting Entries and Financial Statement Supplies, Unearned Revenue, and Wages Adjusting Entries
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Transcript

Hello within the supplies unearned revenue and wages adjusting entry, we'll get into the actual adjusting entries and we'll discuss the types of accounts that will have adjustments to them and focus in on the accounts related to supplies, unearned revenue and the wages adjustments. Each of these adjusting entries will have a balance sheet account and an income statement account supplies including the supplies asset account supplies expense account, unearned revenue, including the unearned revenue liability account and the revenue income statement account wages including the wages payable liability and the wages expense account. We'll talk about how to record these transactions in terms of a presentation. And we'll also show how to record these and a worksheet that we can follow along with within Excel, learning both the adjusting process and a bit about Excel how to record entries, and that worksheet will be formatted for us but Allow us to learn the basics of Excel, which are relationships of cells adding and subtraction within Excel.

We will also include discussion questions, which will be more open ended questions designed to have some interaction within students within the course. And we're also going to have some multiple choice type questions that we can take a look through, and some short calculation questions that we can practice on two types of formats that we may see

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