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Yes it will appear in both statements
Yes. They will appear in the balance sheet & income statement.
The adjusting entries will affect both statements
Thanks for invitation,
Adjusting entries are accounting journal entries that convert the organization's accounting records to the accrual basis of accounting. An adjusting journal entries are typically made just prior to issuing a company's financial statements.
The effect of adjusting entries will effect balance sheet and/or income statement. Exactly same figure would not be shown there.
Absolutely. The adjusting entry amounts must be included on the income statement in order to report all revenues earned and all expenses incurred during the accounting period indicated on the income statement. ... In the following accounting period, the accrual-type adjusting entries will usually be reversed.
yes it will appear
in the balance sheet
prepaid expenses as current assets
unearned revenue as current liabilities
accrued expenses as current liabilities
accrued revenue as current assets
all accrued revenue and expenses are reported in the income statement based on the category
