Journal Entries Archives - Page 2 of 4 - Accounting Journal Entries

Petty Cash Journal Entry

Petty cash is a small amount of money kept on hand to cover small expenses such as office supplies or […]

Capital leases, also known as finance leases, are long-term lease agreements where the lessee effectively assumes the risks and rewards

Deferred revenue, also known as unearned revenue, refers to payments received by a business for goods or services that have

Year-end closing entries are critical in accounting because they ensure that all temporary accounts (revenues, expenses, profits, and losses) are

Closing entries are made at the end of an accounting period to transfer balances from temporary accounts such as revenues,

Intercompany receivables arise when one entity within a group of companies provides goods, services, or loans to another entity within

Transferring cash from one company to another within a group of companies involves recording intercompany transactions. Here’s how you would

When a company pays off a liability, it reduces both the liability and the cash (or bank) account. Here’s how

Month-end closing entries are essential for ensuring that your financial records accurately reflect the business’s activities for the period. These

Three-way matching is a key control mechanism in accounts payable to ensure that payments are only made for goods or

Balance sheet entries involve recording and classifying a company’s assets, liabilities, and equity to provide a snapshot of its financial

Closing a business involves several accounting entries to ensure that all assets are properly liquidated, liabilities are settled, and equity