Adjusted Basis After a taxpayer’s basis in property is determined, it must be adjusted upward to include any additions of capital to the property […]
Adjusted Gross Income Gross income reduced by business and other specified expenses of individual taxpayers. The amount of adjusted gross income affects the extent to […]
Adjusted Trial Balance A trial balance prepared after all adjusting entries have been recorded and posted to the accounts. Should have equal credit and debit […]
Adjusting Journal Entry An accounting entry made into a subsidiary ledger called the General journal to account for a periods changes, omissions or other financial […]
