Journal Entries

A journal entry is a classification of transactions into accounting journal items. The journal entry can consist of numerous recordings, each of which is either a debit or a credit. The total of the debits must equal the total of the credits or the journal entry is said to be “unbalanced”. Journal entries can record unique items or recurring items such as depreciation or bond paying off.

Annuity Method of Depreciation

Annuity Method of Depreciation: Learning Objectives: What is annuity method of depreciation? Where is it adopted? According to this method, the purchase of the asset concerned is considered an investment of capital, earning interest at certain rate. The cost of the asset and also