SBITA Journal Entries
SBITA (Subscription-Based Information Technology Arrangements) journal entries With detailed explanation for various scenarios like opening balance, subscription changes and termination […]
Accounting
Accounting
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
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
Basic Journal Entries
Simple Journal Entries
Simple journal entries involve Basic accounting involves transactions where a single debit occurs in one account and a single credit
Income Entries
Journal Entry for Retained Earnings
Retained earnings represent the cumulative amount of net income that a company has retained, rather than distributed as dividends to
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
Accrued Entries
Accrued Interest Journal Entry
Accrued interest is interest that has been earned or incurred but not yet paid or received by the end of
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