Homework answers / question archive / Module 2Adjusting the Accounts BluJay Aviation BluJay Aviation: Episode 2 In Episode 2, Wren and Brad continue their discussion about starting BluJay Aviation and the company's anticipated scope of operations

Module 2Adjusting the Accounts BluJay Aviation BluJay Aviation: Episode 2 In Episode 2, Wren and Brad continue their discussion about starting BluJay Aviation and the company's anticipated scope of operations

Accounting

Share With

---

Module 2Adjusting the Accounts

BluJay Aviation

BluJay Aviation: Episode 2

In Episode 2, Wren and Brad continue their discussion about starting BluJay Aviation and the company's anticipated scope of operations. With a plan to keep their own books, at least at first, they end the discussion brushing up on the accounting equation, Assets = Liabilities + Owners' Equity (A = L + OE), the basis of all accounting systems.

In the second video on the accounting equation, follow how seven basic transactions affect it.

Watch BluJay Aviation - Episode 2 and the video on the accounting equation, and then complete the quiz.

---

An adjusting journal entry is an entry made in the ledger to record revenues and expenses that have been paid in cash.

True

False

---