looking for

What do you mean by adjusting entries

Adjusting entries are journal entries made at the end of the accounting period that adjust the general leadger accounts to more accurately state the revenues and expenses or the income statement for the period and the assets and liabilities on the balance sheet at the end of the period.

According to weygandt, kieso and kimmel, “Adjustig entries are entries made at the end of an accounting period to ensure that companies follow the revenue recognition and matching principles”.
According to pyle and Larson, “Adjusting entries are journal entries made to assign revenues to the period in which earned and to match revenues and essences.
In summary, adjusting entries are entries required at the end of each accounting period to recognize, on an accrual basis, revenues and expensses for the period and to report proper amount for asset, liability and owner’s equity accounts.