At the end of every year or other accounting period, accounts dealing with inventory require some adjustments. The purpose of making these adjustments is to update account balances so that they ...

Successful businesses must stay on top of their accounting. Learn how to use payroll journal entries to track wages and other ...

Companies record both income tax expense and income tax payable in journal entries. For companies that use the cash basis for both financial and tax reporting, income tax expense equals income tax ...

The Center for Audit Quality issued a practice aid on testing journal entries. The nonauthoritative document is designed to be a reference for auditors of public companies when applying certain ...