In January 2025
Answer to Question #125890 in Accounting for Everlyn
A. Record end-of-year fixed asset depreciation
B. Adjust an inventory quantity
C. Adjust owner's equity
D. Any of these options
Explain why the answer is correct.
The Answer is D. Any of this options
A general journal entry can be used to record transactions relating to adjustment entries, accounting errors and opening stock. therefore a general journal entry can be used for purpose of adjusting owner's equity, adjusting an inventory quantity and recording end-of-year fixed asset depreciation.
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