Adjusting Entries

If you have difficulty answering the following questions, learn more about this topic by reading our Explanation of Adjusting Entries.

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	Word Clue	Scrambled Answer	Unscrambled Answer
1.	Adjusting entries are associated with this accounting principle.	GACNIMTH	MATCHING
2.	These are a common type of adjusting entries.	SCALUACR	ACCRUALS
3.	Another name for adjusting entries that involve prepayments.	SERFRLADE	DEFERRALS
4.	The type of account involved with the deferral of revenues.	YILILBTIA	LIABILITY
5.	This type of account is part of the entry to accrue revenues.	TESAS	ASSET
6.	An accrual entry involving a liability will also include this type of account.	PEESENX	EXPENSE
7.	A common adjusting entry pertaining to plant assets is the recording of ______________.	EDCTORIIPEAN	DEPRECIATION
8.	The contra account to accounts receivable is the ____________ for doubtful accounts.	CAWLNALOE	ALLOWANCE
9.	Adjusting entries are usually dated as of the date of the _________ sheet.	ALCNBAE	BALANCE
10.	_________-type adjusting entries are often reversed on the first day of the next accounting period.	CUCLARA	ACCRUAL
11.	The expired amount of prepaid insurance premiums should be reported in the account Insurance __________.	NEESPEX	EXPENSE
12.	An accrual that leads to an increase in assets will likely involve ___________.	SUVENEER	REVENUES
13.	Each adjusting entry affects at least one _________ statement account.	OMINEC	INCOME
14.	The account credited in the adjusting entry for depreciation is ______________ Depreciation.	DAMETUCAUCL	ACCUMULATED
15.	One purpose of adjusting entries is to report revenues in the accounting period in which they are __________.	DEERNA	EARNED
16.	Accruing revenues will include a debit to a _____________ account.	CLEAVEIBER	RECEIVABLE
17.	Accruing expenses will include a credit to a ___________ account.	TAILBYIIL	LIABILITY
18.	To avoid the double counting of accrued expenses, ____________ entries are made on the first day of the next accounting period.	SNEGRIVER	REVERSING
19.	An expense incurred but not yet recorded or paid will require an ___________-type adjusting entry.	URCACLA	ACCRUAL
20.	____________ revenues should be reported as a liability.	ANUNDREE	UNEARNED

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