Journal Entry for Non Cash Donation Donation This entry records the non-cash donation to a qualified charitable organization. The donation is made up of property, such as goods, services, or other assets, and is considered deductible by the Internal Revenue…
Journal Entry for Common Stock Issued Common Stock The issuance of common stock represents a form of ownership in a company. By buying common stock, shareholders become part-owners of the corporation and receive certain privileges. Common stockholders are usually entitled…
Journal Entry for Zero Coupon Bonds Zero-Coupon Bonds Zero coupon bonds are a type of debt security that do not pay any periodic interest and are sold at a discount to their face value. Investors purchase these bonds at a…
Journal Entry for Duplicate Payment Duplicate payments can occur when an organization pays for goods that have already been paid for, resulting in a financial loss. This article will discuss the journal entry for duplicate payments. In addition to the…
Journal Entry for Visa Expense Key Takeaways Visa expenses should be recorded with the expense being debited and cash being credited. The employer is responsible for covering visa expenses, which are considered employer expenses and should be covered by the…
Underwriting Fees Journal Entry Underwriting Fees Underwriting fees are costs incurred by insurance companies and investment banks for performing underwriting activities. These expenses are incurred for underwriting insurance policies and securities for IPOs respectively. Underwriting fees encompass various costs such…
Journal Entry for Grant Received Government Grant Today, our organization received a government grant for a beneficial project. The award is a prestigious one and may attract other donors or funding sources. The government has stringent compliance and reporting measures…
Journal Entry for Goods on Consignment Goods on Consignment Goods on consignment are when goods are sent by the owner to an agent for sale, with the owner continuing to own the goods until they are sold. This process does…
Journal Entry for Cash Distribution to Shareholders Shareholders Shareholders have the right to receive distributions of cash from a company’s profits. This is often done through dividend payments, which are distributed based on the number of shares owned. Shareholders can…
Journal Entry for Health Insurance Premium Health Insurance Premium Health insurance premiums represent a critical component for individuals and families seeking coverage for medical care. Generally, higher premiums come with lower out-of-pocket expenses, making it an attractive option for many.…
Journal Entry for Loan Forgiveness Loan Forgiveness Loan forgiveness is a form of financial assistance that alleviates borrowers from the obligation of loan repayment. It is an alternative to traditional loan repayment that is designed to provide relief during difficult…
Journal Entry for Granting Stock Options Stock Options The granting of stock options to employees of a company can provide incentive for them to stay with the company and potentially benefit from increased stock values. Employee stock options (ESOs) are…