Author Archives: kawanlama88

Content Example Balance Sheet Salary Expense A Owner’s Equity B Liabilities C Assets 9 Rent Payable A Owner’s Equity What Is The Accounting Equation And Why Does It Matter? Accounting Equation Definition Basic Bookkeeping For An S Corporation The balance is maintained because every business transaction affects at least two of a company’s accounts. For example, when a company borrows money from a bank, the company’s assets will increase and its liabilities will increase by the same amount. The accounting

Content Costs Key Differences An Analysis Of Process Costing Vs Job Order Costing Action Items For Job Costing And Process Costing Job Costing Example Application Of Process Costing Similarities Between Process Costing And Job Order Costing This system of costing is used when the various items produced are different from each other and each has a significant cost. On the other hand, Process costing QuickBooks is used when there is mass production of similar products, where the costs associated with

Content General Rules For Debits And Credits Financial Accounting What Is A Credit Balance? Accountingcoach What Does A Credit Balance In Accounts Receivable Mean? Understanding Contra Accounts A Debit Accumulated Depreciation; Credit Credit Balance Financial Definition Of Credit Balance It’s ok to have a credit balance in an accumulated depreciation asset account, but the net value of an asset should never go below zero. When you place an amount on the normal balance side, you are increasing the account. If