Rental Income Journal Entry – With Examples
Over the last few weeks we have been focusing on accounting tutorials around balance day adjustments, in particular accrued revenue. As part of that we looked at unbilled rental income. … Read More
Category: Accounting Tutorials
Accounting for Depreciation of Fixed Assets
The accounting for depreciation provides a number of challenges for the accounting student. These include the different methods available, ensuring calculations are correct and dealing with journal entries in relation … Read More
Unearned Revenue Normal Balance
A question we noticed that comes up quite regularly for those new to accounting is what is the normal balance of unearned revenue. It is bit of a strange balance … Read More
Unbilled Revenue – Example With Journal Entries
Those businesses working on an accrual method of accounting, ie not just on a cash basis, need to account for certain end-of period adjustments (often referred to as balance day … Read More
Accrued Rent Income – Example With Journal Entries
A question we see coming up, in particular during these difficult times, is how should accrued income from rent be treated? In this article we will have a look at … Read More
When is Earned Revenue Reported?
When starting out in your accounting studies some of the earliest material to be covered is that concerning accounting principles. These are the fundamental understandings or agreements in the field … Read More
Do You Pay Tax on Drawings From a Business?
In my experience as a Chartered Accountant over the past 20 years, one of the areas that causes the greatest confusion for new clients is drawings. In particular the question … Read More