What are adjusting entries and why are they necessary?

/in /by

Using the Annual Report of your selected company answer the following questions in the Discussion:

  • What are adjusting entries and why are they necessary?
  • In your chosen company, which accounts might require adjusting entries?
  • Why is it unethical not to record adjusting entries when required? What difference does it make?
  • What is the purpose of an adjusted trial balance?

Please use the link to the Financial report to answer these questions. Thanks.

http://www.flyjacksonville.com/PDFs/CAFR-FY15.pdf

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