Definitions
There is 1 meaning of the phrase
Adjusting Entry.
Adjusting Entry - as a noun
An accounting entry made at the end of an accounting period to allocate items between accounting periods
Example Sentences
"The adjusting entry for depreciation expense was necessary to allocate the cost of the asset over its useful life."
"To correct an error in the financial statements, the accountant made an adjusting entry to adjust the accounts receivable balance."
"By recording an adjusting entry for prepaid expenses, the accountant recognized the consumed portion as an expense."
"The adjusting entry for unearned revenue was made to reflect the portion of the revenue earned during the reporting period."
"An adjusting entry for inventory shrinkage was necessary to reduce the value of inventory that was lost or stolen."
