1. What are the four different adjustingentries? What accounting assumptions nec

1. What are the four different adjustingentries? What accounting assumptions necessitate the use ofadjusting entries? What accounts are subject to adjustingjournal entries? What are the advantages and disadvantages ofusing automated accounting systems to do adjusting entries?What are your thoughts on making adjusting entries; are they reallyneeded or is this just extra work by accountants?