Category Archives for : Bookkeeping

As your loan matures, you can expect a higher percentage of your payment to go toward the principal, with a lower percentage going toward the interest. We’re transparent about how.

For example, suppose the trial balance showed total debits of 84,600 but total credits of 83,400 leaving a difference of 1,200 as shown below. Suppose the sale of old furniture.

The company may be required to reflect fair market value adjustments, though it may not record accumulated depreciation against the asset. Capitalized costs are usually long term (greater than one.