Adjusting Entries (Word Scramble)

1. Adjusting entries are associated with this accounting principle.

2. These are a common type of adjusting entries.

3. Another name for adjusting entries that involve prepayments.

4. The type of account involved with the deferral of revenues.

5. This type of account is part of the entry to accrue revenues.

6. An accrual entry involving a liability will also include this type of account.

7. A common adjusting entry pertaining to plant assets is the recording of ______________.

8. The contra account to accounts receivable is the ____________ for doubtful accounts.

9. Adjusting entries are usually dated as of the date of the _________ sheet.

10. _________-type adjusting entries are often reversed on the first day of the next accounting period.

11. The expired amount of prepaid insurance premiums should be reported in the account Insurance __________.

12. An accrual that leads to an increase in assets will likely involve ___________.

13. Each adjusting entry affects at least one _________ statement account.

14. The account credited in the adjusting entry for depreciation is ______________ Depreciation.

15. One purpose of adjusting entries is to report revenues in the accounting period in which they are __________.

16. Accruing revenues will include a debit to a _____________ account.

17. Accruing expenses will include a credit to a ___________ account.

18. To avoid the double counting of accrued expenses, ____________ entries are made on the first day of the next accounting period.

19. An expense incurred but not yet recorded or paid will require an ___________-type adjusting entry.

20. ____________ revenues should be reported as a liability.