Accruing Wages Payable
If you have employees, chances are you owe them a certain amount of wages at the end of an accounting period. If so, an adjusting…
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Prepaid Insurance
Typically, insurance premiums are paid when coverage begins. So if you paid for an insurance policy during the accounting period, you probably bought coverage for…
Prepaid Insurance
Typically, insurance premiums are paid when coverage begins. So if you paid for an insurance policy during the accounting period, you probably bought coverage for…
Adjusting Entry for Inventory
Do you maintain an inventory of merchandise for sale to your customers? If so, you need to physically count the items that are in your…
Accruing Interest Income Receivable
If you are earning interest income that will be payable sometime after the end of the accounting period, you need to make an adjusting entry…
Recording Depreciation Expense
At the end of an accounting period, you must make an adjusting entry in your general journal to record depreciation expenses for the period. The…
Adjusting for Bad Debts
Do you extend credit to your customers? If so, do you have any accounts receivable at year end that you know are uncollectible? If you…
One-Year MBA – new idea taking over the business education
It’s interesting how one’s whole perspective can change quickly. As a career changer, I always believed that a two-year MBA would always be a better…