Adjusting journal entries:
A) need not be journalized since they appear on the worksheet.
B) need not be posted if the financial statements are prepared from the worksheet.
C) are not needed if closing entries are prepared.
D) must be journalized and posted.

Question

Quizplus · Accepted Answer

Adjusting journal entries are essential for ensuring that the accounts reflect the correct balances before financial statements are prepared. They must be journalized in the general journal and then posted to the general ledger to update the account balances. This process is crucial for maintaining accurate and up-to-date financial records.

Adjusting Journal Entries