assitant needed

Unit 3: Analyzing and Recording Transactions ------- Unit 4: The adjustment process

1-Why is the adjusting process needed?

2-Name two types of adjusting journal entries that are commonly made before preparing

3-financial statements? Explain, with examples.

4-Why are adjusting journal entries needed?

5-What is the difference between the trial balance and the adjusted trial balance?

6-Why is the adjusted trial balance trusted as a reliable source for building the financial statements?

7-What do the terms “debit” and “credit” mean?

8-Why does the combined total of the company’s liabilities and equity always equal the total of the company’s assets?

9-How do revenues and expenses affect the accounting equation?

10-Will an accounts receivable balance increase with a debit or a credit entry? How do you know?

11-What is the general ledger?

12-Explain what a T-account is and what purpose it serves.

13-What is an unearned account? What type of account is it?