An adjusting journal entry is usually made at the end of an accounting period to recognize an income or expense in the period that it is incurred. Made whenever management desires to change an account balance. Assigning revenues to the periods in which they are earned. We made it much easier for you to find […]
Month: June 2023
Amortization Of Patent Cash Flow Statement
Cash flow from investing activities b. Say a company purchases an intangible asset such as a patent for a new type of solar panel. Write the description such as purchase of intangible asset and the dollar amount of the increase. The income statement shows a net profit of 6350 for the period 20X9. How Iis […]
Treasury Stock On Balance Sheet
An account contra to. Likewise when the company records the sale of treasury stock it will credit the treasury stock in order to remove it from the balance sheet after the sale. 591 Balance sheet presentation As discussed in ASC 505-30 Treasury Stock a reporting entity that repurchases its shares may account for the shares […]
