Understand adjusting entries for accounting purposes, how they are made and what they impact. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

When you buy supplies for your company, you record the expense in your supplies account. Once the supplies are used, they become an expense that must be listed on the income statement. You need to ...

When you purchase supplies, you must enter their full cost in your accounting records. Over time, the supplies are used or discarded. If you use the accrual method of accounting, you must make an ...