Which account would normally not require an adjusting entry?
A) Wages Expense
B) Accounts Receivable
C) Accumulated Depreciation
D) Smith, Capital

Question

Quizplus · Accepted Answer

Smith, Capital is an equity account that typically does not require adjusting entries, as it reflects the owner's investment and withdrawals, which are recorded as they occur. Adjusting entries are usually made for revenue and expense accounts to match income and expenses to the correct accounting period.

Which Account Would Normally Not Require an Adjusting Entry