Private Equity
Essay specific features


Written by:
Juan B
Date added:
February 9, 2012
Level:
University
Grade:
A
No of pages / words:
3 / 722
Was viewed:
359 times
Rating of current essay:
Essay content:
If there is, they use a reverse entry to recognize an asset and reduce the expense.
Here is an example. Firm X paid $13,000 for rentals during 2006. As these payments are made, the firm records the following:
Rental expense $13,000
Cash $13,000
At the end of the year, the firm examines to determine whether any portion of $13,000 is still not expired...
displayed 300 characters
Custom written essay
All essays are written from scratch by professional writers according to your instructions and delivered to your email on time. Prices start from $11.99/page
Order custom paperFull essays database
You get access to all the essays and can view as many of them as you like for as little as $28.95/month
Buy database accessOrder custom writing paper now!
- Your research paper is written
by certified writers - Your requirements and targets are
always met - You are able to control the progress
of your writing assignment - You get a chance to become an
excellent student!
Get a price guote
If all $13,000 is expired, then there is no adjusting entry to make. If, on the other hand, the firm finds that $1,000 of the $13,000 is the payment for next January’s rental (i.e., $1,000 is not expired yet), then the firm records the following adjusting entry on 12/31/2006 (we call this adjusting entry reverse entry):
Prepaid expenses $1,000
Rental expense $1,000
When these two entries are added together, we find that the firm’s rental expense during 2006 was $12,000 and there is a $1,000 prepaid expenses (an asset) at the end of 2006...
displayed 300 characters
General issues of this essay:
Related essays:
-
1 pages, 235 words
-
2 pages, 509 words
-
3 pages, 633 words
-
1 pages, 213 words
-
1 pages, 277 words
-
1 pages, 238 words
-
1 pages, 214 words