Not an uncommon question we see come up around prepaid rent is the question "is it an asset or a liability?". The answer, of course, depends on whether you are the tenant or the landlord - and its...

In today's accounting tutorial, we look into how a discount can arise on a bonds payable issuance and, in particular, the calculations and journal entry. We will cover what these bonds are used for,...

In our accounting tutorial we work through an example of the impact of debentures in the trial balance and financial accounts.

The other day we looked at debentures and, in particular, working through an example and how it flowed through the trial balance and into the financial statements. In working on that article for our...

The type of account and normal balance of prepaid insurance is a current asset and debit respectively. In this accounting tutorial we work through an example with journal entries and a full...

This is the first of our "toe-dips" into the world of economics for the website. Having last studied economics at undergrad many years ago, it's not an area of expertise by any stretch. Nonetheless,...