How to Record 401k Employer Contributions Journal Entry
Recording the employer’s contribution to the 401(k) plan includes the company’s responsibility for the retirement plan and identifying related expenses […]
Accounting
Accounting Entries
Purchase Entries
How to Book HVAC Purchases in Journal Entry
When booking HVAC (heating, ventilation, and air conditioning) purchases in journal entries, you need to determine whether the purchase is
Accounting
Journal Entries for Dividends
Journal entries for dividends involve recording the declaration and payment of dividends by a corporation to its shareholders. There are
Accounting
Intercompany Accounting Journal Entries
Intercompany accounting refers to transactions that occur between related legal entities within the same corporate group. These transactions need to
Accounting
Gain on Sale of Asset Journal Entry
When a business sells an asset and the sale price is greater than the asset’s book value (original cost less
Sales Entries
Discount on Sales Journal Entry
A sales discount is a reduction in the sales price offered to customers, usually to encourage prompt payment or as
Inventory Entries
Buying Inventory Journal Entry
When a business purchases inventory, it needs to record the transaction in its accounting records. The journal entry for the
Accounting
Intercompany Transactions Journal Entries Examples
Intercompany transactions occur between two or more divisions, subsidiaries, or units within the same parent company. These transactions need to
Accounting
Operating Lease Journal Entries
An operating lease is a lease agreement where the lessee does not assume the risks and rewards of owning the
Accounting
Journal Entry for Vacation Accrual
Vacation accrual refers to the process of setting aside liability for employees’ earned but unused vacation time. This ensures that
Accounting
Clearing Account Journal Entry Example
A clearing account, also known as a suspense account, is a temporary holding account used to record transactions until they
COGS Entries
COGS Accounting Entry
Cost of goods sold (COGS) is an essential cost represents the direct costs attributable to the production of goods sold