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Adjusting entries ginagawa yan sa end of accounting period para mairecord mo yung tamang income o expense para sa period n yun. Kelangan maupdate mo yung balanse sa libro mo. Matrabaho at abala kapag imomonitor mo at palagian kang gagawa ng entry. Kaya mainam if magadjust ka na lng sa huli. Maraming klase ng adjusting entries
1. Prepaid Expense (asset method & expense method)
2. Unearned Income (liability method &income method)
3. Accrued Expense
4. Accrued Income
5. Bad debts
6. Depreciation
Don po muna tayo sa una. Halimbawa August ngayon tas nagrenta ka ng boarding house. P1,000 per month ang upa. Nagpaunang bayad ka ng para sa isang taon. So bale P12,000.00 binayaran mo (P1,000 x 12 mos) for the period of August 1, 2012-July 31, 2013. ang entry mo ay:
Expense method:
Dr. Rent Expense 12,000.00
Cr. Cash 12,000.00
Asset method
Dr. Prepaid Rent 12,000.00
Cr. Cash 12,000.00
kahit alin jan sa dalawang method na yan gamitin.
Ang end of accounting period mo halimbawa ay sa December 31, 2012. Halimbawa December 31, 2012 na at wala ka naman ginawang entry every end of the month para sa renta. Kung hindi mo ia-adjust yang entry na ginawa mo lalabas na P12,000.00 ang rent expense mo sa December 31, 2012 kung expense method. sobra ng P7,000 (for the period of January - July 2013). Napasama yung para sa next year (2013).
O wala kang rent expense sa Dec 31, 2012 kung asset method naman ang ginamit mo. Pero ang totoo Limang (5) buwan na ang nakunsumo mong renta (August-December). Bale ang tamang nakunsumo mo ay P5, 000.00 (P1,000 x 5 mos). So dapat itama mo at kelangan iadjust.
adjusting entry:
Expense Method:
Dr. Prepaid rent 7,000.00
:Cr. Rent Expense 7,000.00
Dahil sobra ng P7,000 ang expense mo, kelangan mo syang bawasan kaya ka nag-credit. kasi sa unang entry mo P12,000 yung debit mo. P12,000 (debit) less P7,000 (credit)=P5,000 (debit). Tama na yung expenses mo sa libro na P5,000 (5 months. August to December)
Asset Method:
Dr. Rent Expense 5,000.00
Cr. Prepaid Rent 5,000.00
P12,000 yung debit mo sa unang entry mo sa prepaid rent. Limang (5) buwan nyan ay nakunsumo na kaya kelangan mo ng ibawas at i-recognize as expense. P12,000 (debit) less P5,000 (credit)=P7, 000 (debit) prepaid rent for the next year. P5,000 rent expense for the year.
next po yung sa depreciation naman.
masaya palang mag-aral ng accounting khit mahirapan ka
Pinag hirapan ko to!
cost accounting philippine edition by raiborn and kinney solutions manual naman po. thank you!
I'm natashia, BSA 3rd year student. ask ko lng po sana if ok lang na makahingi din ako ng sol.man for cost accounting philippine edition by raiborn and kinney? need ko lang po talaga. thank you!
pero babawi ako! hehe
