Paid Trade Expenses Journal Entry – Your Comprehensive Guide
This article, as part of our accounting tutorial series, looks at what journal entry is made when a trade expenses are paid.
Paid Trade Expenses Journal Entry – Your Comprehensive Guide
This article, as part of our accounting tutorial series, looks at what journal entry is made when a trade expenses are paid.
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.
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.
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...
When a business records an expense at the end of reporting period for which it has not received an invoice for nor paid we call this an accrued expense. Under the accrual accounting concept the...
Today's accounting tutorial will look at prepayments, which occur when an expense or income is paid or received before contract obligations are fulfilled. This tutorial will be looking at the...