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,...
Posts by Andrew
Accrued revenue adjusting entry; a debit to current assets and a credit to revenue. Read more with a worked example and journal entries to follow through.
In today's accounting tutorial, we look at the difference between gross fixed assets and net fixed assets and why this is important.If you are in a hurry, the only difference between the two is...
Over the last few weeks, we have been focusing on accounting tutorials around balance day adjustments, particularly accrued revenue. As part of that, we looked at unbilled rental income. And it's...
The accounting for depreciation provides a number of challenges for the accounting student. These include the available methods, ensuring calculations are correct, and dealing with journal entries...
The normal balance of unearned revenue is a credit, being a liability on the balance sheet. We work through an example with journal entries and explanations.