Things to know: Improving consumables inventory..

Things to know: Improving consumables inventory..

when accounting is recorded in the general journal Sometimes adjustments may need to be made so that the balances in the financial statements match the actual balances of the entity. There are 8 types of item adjustments at the end of the period:

- accrued income

- accrued expenses

- advance income

- Prepaid Expenses

- Depreciation

- consumables are spent

- Doubtful debts

- bug fixes

The adjustment of the consumables account is to adjust the consumables account to reflect the actual balance. The methods for improving the list of consumables are as follows:

Beginning of the period + additional purchases during the period - Ending balance = consumables used

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