Thank you for using the Jiskha Homework Help forum. Because an account is a record of debits and credits, there could be entry errors, you will have additional debits and/or credits, prices change, etc.
Accounts often need to be adjusted because of various reasons such as errors, changes in business transactions, or the need to adhere to accounting principles and regulations. Adjustments ensure that the financial statements accurately represent the company's financial position and performance for a given accounting period.
