ABSTRACT
At the end of the accounting year, after closing, the whole accounting process needs to be checked. This check is done after the balances have been prepared, but, obviously, before preparing the income statement and the final balance sheet. These corrections are entered in the general journal and from here journal entries will be made. The balances will be corrected afterwards with the amounts shown in the journal entries. This chapter familiarises students with the adjustment of entries and provides examples to show how to adjust entries in the journal. The chapter also includes multiple exercises that help students try themselves and adjust the entries for a set of financial scenarios.
