How To Account Vendor Deposits and Prepaid Expenses
Vendor Deposit and Prepaid Expenses are two typical accounts that could be easily slipped and ignored among hundred of daily accounting tasks. You want to …
Posts tagged Prepaid Expenses
Accrual Basis Accounting Fundamental
The regulators do not permit a business organized as a C-corporation (in the United States) to use cash basis accounting. Instead, these companies must use …
Balance Sheet From The Cash Flow Point Of View
Your business sells products both at retail to consumers and to other businesses. You extend short-term credit to your business customers. Over the years, you …
Adjustment Accounts and Its Journal Entries
There are 2 types of adjustment entries in accounting (bookkeeping), they are: Deferral and Accrual Adjustment. Deferral Adjustments Deferral adjustments are used for updating …