Supplies purchase on account for a corporation will record the purchase of supplies with no cash. We will enter the accounting journal entry for supplies in the general journal and then post the accounting transaction to the general ledger, that will be used to generate the trial balance. We will debit the asset supplies and… Continue reading Corporation Comp Prob Supplies Purchase – 40 Journal Entry Supplies Purchase on Account
Tag: Corporation
Corporation Introduction – What is a Corporation & Pros and Cons of Being Incorporated
We will discuss the corporation for of business entity. As we think about he corporate form of business it is useful to make comparisons to other forms of business entities like a sole proprietorship and partnership. We also have other entities like LLC and S corporation. I think of business ententes in a similar way… Continue reading Corporation Introduction – What is a Corporation & Pros and Cons of Being Incorporated