An adjusting entry could be made for all of the following except
A)Unearned revenues.
B)Depreciation expense.
C)Owner withdrawals.
D)Accrued revenues.
E)Prepaid expenses.

Question

Quizplus · Accepted Answer

The adjusting entry for owner withdrawals is not necessary because it does not affect the company's financial statements. Owner withdrawals are recorded as a decrease in the owner's equity account (usually called "Owner's Draw" or "Drawings") and do not impact any other accounts. All of the other options listed require adjusting entries to accurately reflect the company's financial position and results.

An Adjusting Entry Could Be Made for All of the Following