Once an invoice is sent to your customers, you also need to record the invoicejournal entry. While recording the invoice journal entry, you need to debit the accounts receivable account for the amount due from your customer and credit the sales account for the same amount. You also need to ...
However, if the business model requires customers to make payments in advance for several years, the portion to be delivered beyond the initial twelve months is classified as a “non-current” liability. A future transaction has numerous unpredictable variables, so as a conservative measure, revenue...
When a subledger journal entry is created and completed, the reference date must belong to an open or future open period in General Ledger. The following rules apply: When a subledger journal entry is completed, the reference date must be in an open or future open accounting period. ...
Journal Entry Debits Credits Retained earnings— SBC expense $3.0 million Contra-equity— Unearned (deferred) Compensation $3.0 million The same thing will happen on January 1, 2020 and again one final time on January 1, 2021. So that’s the basic accounting for restricted stock under GAAP....
Finally, digital resources are by definition highly replicable and suffer from quick obsolescence, which might alleviate the so-called «problem of the future» (Mahoney, 2001). In conclusion, when moving from sequential exchanges to the privity of contract, traditional justifications of the ...
full information revelation is generally suboptimal. Social welfare is convex in the probability with which agents reveal their private information. In the optimum, each agent is provided with incentives to either fully reveal his private information or not reveal it at all. The optimal contract can...
When a payment is made for a future expense, the following journal entry is made:Prepaid expense ABC Bank ABCAs the related expense is incurred, prepaid expense is written off proportionately as follows:Expense DEF Prepaid expense DEF
I need to do work from home too, I am months behind on that and my contract is up for review at the end of next month so I need to find the energy. So many broken promises on my behalf, nothing new there I guess. (Comment on this) Monday, March 26th, 2012 7:36 pm Had ...
The findings for the control variables also reveal that researchers belonging to larger departments tend to engage with industries across various channels: joint research (β = 0.331;p < 0.001), contract research (β = 0.133;p < 0.05), and consulting activities (β = 0.3...
For those of you interested in following the discussion I set up a thread where I said pretty much exactly what I copied and pasted into this blog entry at https://www.omorashi.org/topic/58605-should-bathroom-access-at-work-be-a-right/ where I post as DesperateJill and where I ...