Depreciation and Amortization Journal Entry With Formulas and Example
What Are Depreciation and Amortization? Depreciation refers to reduction in the value of tangible fixed assets over their useful life […]
Depreciation Entries
Sales Entries
Journal Entry for Sale of Property with Closing Costs
Many businesses purchase real estate to support operations such as office buildings, warehouses, investment properties. Eventually, they may decide to
Accrued Entries
Revenue Accruals Journal Entry With Examples
What Is Accrued Revenue? Accrued revenue refers to revenue that has been earned through delivering goods or services but not
Accounting
Invoice Journal Entry with Examples
What is the Journal Entry for an Invoice? When a business sends invoice to customer, it records sales transaction. The
Accounting
Journal Entries in Accounting with Format, Rules, Types, and Examples
What is a Journal Entry? A journal entry is a record of a financial transaction in the books of accounts.
Double Entries
Double Entry for Goods and Purchases and Journal Entries Explained with Examples
🔍 What Is the Purchase Account? The Purchase Account records all goods bought for resale purposes. Even though these goods
Accrued Entries
Accrued Revenue Examples & Journal Entries
In accrual accounting, accrued revenue refers to income earned but not yet invoiced or received. This happens when a company
Accounting
Basic Accounting Entries for Interview With Examples
Understanding the basic journal entries is essential for anyone preparing for accounting job interview. Below are common entries with examples
COGS Entries
Accounting Entries for Inventory and Cost of Goods Sold (COGS)
When a business sells goods, two important accounting entries will made: 1. Purchase of Inventory Date Account Title Debit ($)
Accounting
Income Summary Closing Entry
Income Summary Closing Entry—Journal Entries Explained with Examples At the end of an accounting period, temporary accounts, which is a
Accounting
Journal Entry Samples
What is a Journal Entry? A journal entry is first step in the accounting cycle. It records business transactions using
Accounting
Starting a Business Journal Entry
What is the journal entry when starting a business? When a business owner starts a business, they usually invest money