Debentures in the Trial Balance
A question we see come up sometimes is that around debentures, in particular what are they, what are their journal entries and where are they in the trial balance. So … Read More
Issue of Debentures for Consideration Other Than Cash
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 … Read More
Type of Account and Balance of Prepaid Insurance
Prepayments or prepaid expenses are one of the four main balance day adjustments that an accounting student needs to learn in their progress through any accounting syllabus: the others being … Read More
The Five Characteristics of Perfect Competition
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 … Read More
Accrued Revenue Adjusting Entry
An adjusting entry, or often referred to as a balance day adjustment, forms part of financial reporting under accrual accounting systems. Today we are going to be looking at accrued … Read More
Gross Fixed Assets and Net Fixed Assets
In today’s accounting tutorial we are looking at what is the difference between gross fixed assets and net fixed assets and why is this important. If you are in a … Read More
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