These types of adjusting entries were introduced in this chapter: (1) prepaid expenses, (2) unearned revenues, (3)

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These types of adjusting entries were introduced in this chapter: (1) prepaid expenses, (2) unearned revenues, (3) accrued revenues, and (4) accrued expenses.

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With the class divided into four groups, each group should choose one type of adjusting entry and report to the class on the following:

(a) the status of the accounts before adjustment,

(b) the debit-credit effect of the adjusting entry, and

(c) the effects on the balance sheet and income statement if the adjusting entry is not made.

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