Category: Bookkeeping

When organizations experience flux, they may even acknowledge that market trends or shifts in consumer tastes are leading strategic drift definition up to a make-or-break moment. In spite of this realization, decision makers at the company seem incapable (or unwilling) to reach a consensus that turns the tide. Like a ship without a rudder, gradually…

Later on, when the business has actually provided the goods or services, an adjusting journal entry will be made. The balance of the unearned revenue account will then be reduced with a debit entry and then the balance in the revenue account will be increased with a credit entry. The deferred payments are recorded as…

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If some journal entries must be written every month, it is helpful to assign journal entry numbers to these standard journal entries or recurring journal entries. For example, a company may designate JE33 (Journal Entry #33) to be the recurring accrual of expenses that have occurred but have not yet been recorded in Accounts Payable…