Does a free sample journal entry sound interesting? Let's understand this with real-time examples. Do you remember receiving some freebies when purchasing a product? For example, you noted a buy 1 get one offer for a Perfume. Here, the Second Perfume is a free … [Read more...] about Goods distributed as free sample journal entry
Accounting
Cash Deposit JE
Cash Deposit in Bank JE is a seldom-used journal entry. Physical cash usage is decreasing. That's due to the use of digital money. Thus, cash deposits are rare. Thanks to the digital era! There are a lot of tech advancements. Cash … [Read more...] about Cash Deposit JE
Started Business with Cash Journal Entry
Started Business with Cash Journal entry is probably the initial accounting transaction. Any Entity needs Capital to achieve its primary business objective. Owners bring Capital into the business through We will learn some basic concepts before moving on to the main … [Read more...] about Started Business with Cash Journal Entry
Installation of Machinery Journal entry
Machinery is a Fixed Asset that helps achieve the business's primary objective, such as Manufacturing goods or processing raw materials. So, purchasing this machinery involves high costs, and the machinery is so large that it might take a couple of days to install. We need to … [Read more...] about Installation of Machinery Journal entry
Computer Purchase Entry
A computer purchase is a financial transaction. It is recorded according to specific rules. Those are the Golden Rules of Accounting. Such a recording process includes: Steps to Record the Purchased Computer Journal Entry We need to follow the above steps. … [Read more...] about Computer Purchase Entry