Give an example of one of the four adjusting entries for an actual company. My introductory post, below will give an example of each type to get you started. Then I want you to think of just one for any of the 4 types. To get things started, here is one example of each of the four types of Adjusting Journal Entries. 1. Prepaid Expenses: Larry’s Fun House bought $600 in Food and Beverages in July. In August, the business used up $250 of those supplies. Here is the adjusting journal entry: DR  Food and Beverages Expense $250        CR   Food and Beverages                 $250 2.

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Give an example of one of the four adjusting entries for an actual company. My introductory post, below will give an example of each type to get you started. Then I want you to think of just one for any of the 4 types. To get things started, here is one example of each of the four types of Adjusting Journal Entries. 1. Prepaid Expenses: Larry’s Fun House bought $600 in Food and Beverages in July. In August, the business used up $250 of those supplies. Here is the adjusting journal entry: DR  Food and Beverages Expense $250        CR   Food and Beverages                 $250 2. Unearned Revenues: Allstate Insurance customers paid for car insurance for 6 months. The local office recorded $720,000 in premiums paid for July 1 through December 31. Here is the adjustment for the month of October: DR    Unearned Revenue    $120,000         Revenues                                   $120,000   3. Accrued Revenues: The City of Greensboro bills customers once per month. Dr. Mereba, a customer of the Water Company received her bill for $35. The adjusting JE for the City of Greensboro Water Company is: DR Accounts Receivable        $35       CR Service Revenues                $35 4.  Accrued Expenses: Elaine’s Spa pays her employees weekly. Payday is every Friday. At the end of October, the business owes $4,000 to its employees, but payday is not until Friday, November 4. The adjustment to accrue wages is: DR       Wages Expense         $4,000            CR          Wages Payable          $4,000 Now, all you have to do is think of an adjusting journal entry to show, for any one of the 4 types. Here are some businesses that record adjustments regularly. Any business where customers prepay them for things like insurance, rent. If the customer is a business, it also makes an adjustment as the asset turns into an expense Any business that has depreciable assets Any business that buys supplies for several months at a time A business that bills its customers once…

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