Is the land balance before the accounts have been adjusted the amount that should normally be…

1. Is the land balance before the accounts have been adjusted the amount that should normally be reported on the balance sheet? Explain.

2. Is the supplies balance before the accounts have been adjusted the amount that should normally be reported on the balance sheet? Explain.

3. Why are adjustments needed at the end of an accounting period?

4. What is the difference between the adjusting process and the closing process?

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