Accounting
Accounting

Journal entry for sold merchandise on account

Journal entry for sold merchandise on account Introduction In the merchandising business, we may need to sell merchandise on account in order to increase the sale volume we can make each year. Likewise, we need to make the journal entry for sold merchandise on account by recording the sale amount ...
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Journal entry for issuing check

Journal entry for issuing check Overview In business, the company may issue the check for various purchases from suppliers as well as for some expenses during the accounting period. Likewise, the company needs to make the journal entry for issuing the check whether it is issued for buying assets, paying ...
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Payment to creditors journal entry

Payment to creditors journal entry Overview In business, the company may owe some types of debts to the creditors such as suppliers, banks, or other lenders. Likewise, it needs to make the payment to creditors journal entry when the cash is paid out later to the creditors in order to ...
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Advantages and Disadvantages of Return on Equity

Advantages and Disadvantages of Return on Equity Return on Equity is the measurement of company ability to generate profit from the available equity.  It is the percentage that arrives from the company’s net profit over the stock equity. It is the management’s ability to turn equity into profit. Good or ...
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Calculate double declining balance depreciation

Calculate double declining balance depreciation Overview Double declining balance depreciation is the depreciation method of fixed assets that results in the biggest depreciation expense in the first year and the smallest in the last year of the fixed assets useful life. The company can calculate double declining balance depreciation after ...
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Owner withdrawal journal entry

Owner withdrawal journal entry Overview Sometimes, the owner of the company may withdraw the cash directly from the company for personal use without waiting for the dividend payment. Likewise, the company needs to make the owner withdrawal journal entry in order to account for this event. Owner withdrawal for personal ...
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