Adjusting entries are journalized and posted in a noncomputerized system
A) after the closing entries have been journalized.
B) after the trial balance is prepared but before the work sheet is completed.
C) after the worksheet is completed but before the financial statements are prepared.
D) after the adjustments are entered in the work sheet but before the work sheet is completed.
E) at none of these times.

Question

Quizplus · Accepted Answer

Adjusting entries are made after the worksheet is completed but before the financial statements are prepared. This ensures that the financial statements reflect all revenues earned and expenses incurred during the period.

Adjusting Entries Are Journalized and Posted in a Noncomputerized System