An adjustable table and base assembly generally comprises a table portion and a base portion. The adjustable table and base assembly may be alternately assembled in a first configuration wherein legs of the table portion are positioned on top of legs of the base portion, or in a second configuration wherein side edges of the legs of the table portion are positioned adjacent side edges of the legs of the base portion. In this way, a user of the adjustable table and base assembly receives a benefit of a single piece of furniture serving multiple purposes. A shelf positioned on the base portion allows a user to store and/or display various articles using the adjustable table and base assembly.