LO4-01: Explain the purpose of adjusting entries.
LO4-02: Describe and prepare the four basic types of adjusting entries.
LO4-03: Prepare adjusting entries to convert assets to expenses.
LO4-04: Prepare adjusting entries to convert liabilities to revenue.
LO4-05: Prepare adjusting entries to accrue unpaid expenses.
LO4-06: Prepare adjusting entries to accrue uncollected revenue.
LO4-07: Explain how the principles of realization and matching relate to adjusting entries.
LO4-08: Explain the concept of materiality.
LO4-09: Prepare an adjusted trial balance and describe its purpose.