Result from

Adjusting Entries Unrecorded

prepayments Unpaid/not yet

received
Made/received
Adjustments

Deferrals Accruals

Prepaid Depreciation Unearned Accrued Accrued

Expenses Expense Revenues Expenses Revenues

Exp. xx Depr. exp xx

URev. xx Expense xx Receivable xx
Prepaid Accum. depr.
Revenue xx Liability xx Revenue xx
xx xx

Adjusting entries:

Affect at least one income statement account.

Affect at least one balance sheet account.