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Again, the journal entry to recognize a positive compensation expense related to SARs consists of a debit to compensation expense and a credit to liability under SAR plan. When rights are redeemed The company closes the liability under SAR plan account, and pays the balance with cash.
A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...
A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.
These are some simple examples, but even the most complicated transactions can be recorded in a similar way. This equation is behind debits, credits, and journal entries. This equation is part of the transaction analysis model, [4] for which we also write Owner's equity = Contributed Capital + Retained Earnings
Folio Number: Every page of a journal is numbered. This number is known as a folio number. [5] The folio number is used as a cross reference between the journal and the ledger accounts. The use of folio numbers makes it easy to refer back from the ledger account to the journal entry or forward from the journal entry to the ledger account.
The Gregory B. Penner Stock Index From June 2008 to December 2012, if you bought shares in companies when Gregory B. Penner joined the board, and sold them when he left, you would have a 16.9 percent return on your investment, compared to a 4.8 percent return from the S&P 500.
A company can maintain one journal for all transactions, or keep several journals based on similar activity (e.g., sales, cash receipts, revenue, etc.), making transactions easier to summarize and reference later. For every debit journal entry recorded, there must be an equivalent credit journal entry to maintain a balanced accounting equation ...
Stock indexes drifted to a mixed finish on Wall Street as some heavyweight technology and communications sector stocks offset gains elsewhere in the market. The S&P 500 slipped less than 0.1% ...