Journal Entry for Commission Received
Journal Entry for Commission Received typically include money received and booking an offsetting income to Profit and Loss account.
Interest on Drawings Journal Entry
Interest on Drawings Journal Entry – When charging interest on drawings, the journal entry is typically made at the end of the accounting period to record the interest expense and its impact on the owner’s equity.
Accounting Journal Entries for Depriciation
Accounting Journal entries for depreciation involves recording the periodic depreciation expense and reducing the value of the corresponding asset. Here’s an example of a journal entry for depreciation:
What is Journal Entry for Salary Outstanding ?
What is Journal Entry for Salary Outstanding ? – involves recording the expense and liability associated with the unpaid salaries. The specific accounts used may vary depending on the company’s chart of accounts and accounting practices.
What are bad debts ?
Bad debts refer to the portion of accounts receivable that a business is unable to collect from its customers or clients.
Capital – All about Capital
Capital in accounting refers to the financial resources or assets invested in a business by its owners or shareholders. It represents the total value of the company’s assets after deducting its liabilities.
What is Income
Income what is Income ? – In accounting, income refers to the revenue earned by a business from its primary activities, such as the sale of goods or the provision of services. It represents the inflow of economic benefits into a company during a specific period.
What are Expenses
What are Expenses – In accounting, expenses refer to the costs incurred by a business in its regular operations to generate revenue.
All About – Assets
In accounting, assets refer to valuable resources owned or controlled by a business entity that have the potential to generate economic benefits in the future.
Process of Accounting
The process of accounting involves several steps that are performed in a systematic manner to record, analyze, and report financial transactions and information.
