Brownlee Ltd is a newly established retail store selling plumbing hardware.Shown below are ledger accounts in T-account form,with entries made for the first three months of business.
- Which transaction is an accrual accounting end-of-period adjustment?

Question

Brownlee Ltd is a newly established retail store selling plumbing hardware.Shown below are ledger accounts in T-account form,with entries made for the first three months of business. 
- Which transaction is an accrual accounting end-of-period adjustment?

Quizplus · Accepted Answer

Accrual accounting end-of-period adjustments involve recognizing revenues and expenses that have been earned or incurred but not yet recorded. Option C likely refers to an adjustment for such revenues or expenses, aligning with the principles of accrual accounting.

Brownlee Ltd Is a Newly Established Retail Store Selling Plumbing