SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Adjustment Entries: Introduction
Adjustment Entries: Introduction Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
|
1365 videos|1312 docs|1010 tests
|
FAQs on Adjustment Entries: Introduction Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What are adjustment entries? |  |
Ans. Adjustment entries are journal entries that are made at the end of an accounting period to update the accounts and bring them in line with the correct financial position. These entries are necessary to ensure accurate financial statements.
| 2. Why are adjustment entries necessary? | |
Ans. Adjustment entries are necessary because they help to correct errors, allocate revenues and expenses correctly, and ensure that financial statements reflect the true financial position of a company. They help in presenting accurate and reliable financial information.
| 3. What types of accounts require adjustment entries? | |
Ans. Several types of accounts require adjustment entries, including accrued revenues and expenses, prepayments, depreciation, unearned revenues, and inventory adjustments. These accounts need adjustment entries to bring them up to date and reflect the current financial situation accurately.
| 4. How are adjustment entries recorded? | |
Ans. Adjustment entries are recorded by making journal entries in the general ledger. The debit and credit amounts are determined based on the nature of the adjustment and the affected accounts. These entries are then posted to the corresponding accounts in the ledger.
| 5. Can adjustment entries be reversed? | |
Ans. Yes, adjustment entries can be reversed in the following accounting period if the need arises. Reversing entries are made to cancel out the impact of the previous adjustment entry. This helps to simplify the accounting process and ensures that only the current period's transactions are considered.
About this Video
|
1.7K Views |
|
4.76/5 Rating |
|
Nov 15, 2024 Last updated |
Video Description: Adjustment Entries: Introduction for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Adjustment Entries: Introduction have been prepared according to the SSC CGL exam syllabus.
Information about Adjustment Entries: Introduction covers all important topics for SSC CGL 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Adjustment Entries: Introduction.
Introduction of Adjustment Entries: Introduction in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Adjustment Entries: Introduction in
Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics related with notes, lectures and mock test series for
SSC CGL Exam by signing up for free.
Description
Video Lecture & Questions for Adjustment Entries: Introduction Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
Information about Adjustment Entries: Introduction
Here you can find the meaning of Adjustment Entries: Introduction defined & explained in the simplest way possible.
Besides explaining types of Adjustment Entries: Introduction theory, EduRev gives you an ample number of questions to practice Adjustment Entries: Introduction tests,
examples and also practice SSC CGL tests.
|
1365 videos|1312 docs|1010 tests
|
|
Explore Courses for SSC CGL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Important questions
,past year papers
,video lectures
,practice quizzes
,Viva Questions
,Online Tests
,Previous Year
,Online Tests
,study material
,mock tests for examination
,MCQs
,Sample Paper
,Previous Year
,Previous Year Questions with Solutions
,Summary
,Adjustment Entries: Introduction Video Lecture | SSC CGL Tier 2 - Study Material
,Free
,Extra Questions
,Adjustment Entries: Introduction Video Lecture | SSC CGL Tier 2 - Study Material
,Previous Year
,shortcuts and tricks
,Objective type Questions
,Semester Notes
,Exam
,Adjustment Entries: Introduction Video Lecture | SSC CGL Tier 2 - Study Material
,ppt
,Online Tests
;
Study Adjustment Entries: Introduction on the App
Students of SSC CGL can study Adjustment Entries: Introduction alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Adjustment Entries: Introduction,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Adjustment Entries: Introduction is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup