Content What Are the Proper Accounting Entries for Payroll? Reversing Entries Example of Calculating the Payroll Accrual QuickBooks Accrued Expenses Key takeaways for accrued payroll An Example to Understand Accrued Payroll Employee commissions, wages, and bonuses are accrued in the period they occur although the actual payment is made in the following period. The largest […]

Content Useful Items What Are Examples of Depreciable Property? AccountingTools Depreciation For Sankofa’s 2022 return, gain or loss for each of the three machines at the New Jersey plant is determined as follows. The depreciation allowed or allowable in 2022 for each machine is $1,440 [(($15,000 − $7,800) × 40% (0.40)) ÷ 2]. The adjusted […]