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What Pairs of accounts could not appear in the same adjusting entry?
service revenue and unearned revenue
When is unearned revenue recognized in the financial statements?
What types of industries have unearned revenue? Why is unearned revenue considered a liability? When is the unearned revenue recognized in the financial statements Is a church a company that could have unearned revenue?
Why is Journal Proper called Journal Proper?
because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book
Is there any instances whereby unearned revenue could be classified as non current liability?
When long term liabilities are due after 12 months, then (part of) unearned revenue can be long term. This could be the case with long term contracts, such as maintenance, help-desk support, etc, where the fees for such services are paid up front for several years by the customer.
What are the accounting journal entries for treasury bills purchased on discount?
There are several journal entries that could be made for items purchased on discount. The journals for keeping tabs generally have categories for debit, credit, discount, and total.
How can journal entries meaningful?
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
How journal entries be meaningful?
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
What accounts could appear in adjusting entry closing entry and reversing entry?
In adjusting entries, accounts such as accrued revenues, accrued expenses, prepaid expenses, and unearned revenues may appear to reflect the true financial position at the end of an accounting period. Closing entries typically involve revenue accounts, expense accounts, and the Income Summary account to transfer balances to retained earnings. Reversing entries usually affect accruals, such as accrued revenues or expenses, to simplify the recording of transactions in the new period. These entries ensure that financial statements accurately reflect the company's financial performance and position.
How can be journal be meaningful?
you can make your journal entries meaningful by really writing down your feelings.it doesn't matter if it's good or bad because by making it personal it will be meaningful.you could also include
How can journal entries be meaningful?
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
Where does a senior accountant typically work at?
A senior accountant could work on any established business organization and some of the works for a senior accountant are; month end journal entries and preparing monthly and quarterly reconciliations.
When a company uses special journals the general journal is used for selected transactions and events including?
When a company uses special journals, the general journal is used for selected transactions and events that do not fit into any of the specific categories of the special journals. These could include recording adjusting entries, correcting errors, or any unique transactions that don't have a designated special journal.
