What Is An Unearned Fee In Accounting?

Unearned Revenue Accounts Receivable is an asset account and is increased with a debit; Service Revenues is increased with a credit. Making accounting journal entries is how accounting transactions are recorded. There’s a particular way to make an accounting journal...

Depreciation

Straight line depreciation is when an asset is depreciated in equal installments until it gets to its salvage value. An asset’s salvage value is the estimated amount of the asset’s worth when it gets to the end of its useful life. The straight line depreciation method...

What are Prepaid Expenses?

So when that advance rental payment was made, the journal entry would have been a debit to Prepaid Rent and a credit to Cash. At the end of the accounting period, an adjustment for Rent expense would be made. Prepaid...

What is Considered a Middle Class Income?

Salary Paycheck Calculator Usage Instructions http://www.milleniumtalk.co.uk/present-value-of-1-annuity-table/, also called net profit, is a calculation that measures the amount of total revenues that exceed total expenses. It other words, it shows how much revenues...

Depreciated Cost Definition

The carrying value would be $200 on the balance sheet at the end of three years. The depreciation expense would be completed under the straight line depreciation method, and management would retire the asset. The sale price would find its way back to cash and cash...