Preparing Adjusting Entries and a Trial Balance

A trial balance prepared before adjusting entries are posted.

• Adjusted Trial Balance

• Unadjusted Trial Balance

• Pre-Trial Balance

• Post-Trial Balance

Revenue earned in one fiscal period but not received until a later fiscal period.

• Sales dollars

• Accrued Revenue

• Deferred Revenue

• Earned income

The tax rate associated with the tax bracket.

• Bracket Tax Rate

• Marginal Tax Rate

• FICA Tax Rate

• Income Tax Rate

What type of asset does not depreciate?

• Office Equipment

• Store Equipment

• Buildings

• Land

The amount of inventory on hand at the end of a fiscal period.

• Beginning Inventory

• Merchandise Inventory

• Purchases

• Ending Inventory

Cash and other assets expected to be exchanged for cash or consumed within a year.

• Plant Assets

• Current Assets

• Consumable Assets

• Quick Assets

The amount that will be received for an asset at the time of disposal.

• Purchase Value

• Salvage Value

• Depreciation Value

• Book Value

Physical assets that will be used for a number of years in the operation of a business.

• Plant Assets

• Current Assets

• Consumable Assets

• Quick Assets

A loss in the usefulness of a plant asset as a result of wear or obsolescensce.

• Liability

• Credit

• Depreciation

• Obsolete

The original cost of a plant asset minus accumulated depreciation.

• Purchase Value

• Salvage Value

• Depreciation Value

• Book Value