Category Archives for Financial Accounting

Stock Terminology

There is a lot of important terminology when referring to stock and stock transactions. Therefore, I felt that it needed its own post. Here is a breakdown of the important terms you should know in regards

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Introduction to Stockholders’ Equity

When you see the term stockholders’ equity, you should instantly think of a corporation. That is because corporations are the only type of entity that have stockholders. Partnerships have partners.

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Recording Warranty Expenses and Liabilities

What is a warranty? Most of the products we purchase come with some type of warranty. A warranty is guarantee that the manufacturer of the product will repair or replace the product for a certain period

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Recording Payroll and Payroll Liabilities

In the previous post, we defined and calculated gross pay, payroll taxes, and net pay. In this post, we will discuss how to record the paycheck and the employer taxes. You might be wondering why this is

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Payroll and Payroll Taxes

Payroll is one of the most complicated areas of accounting because of all the rules and regulations surrounding payroll. Not only do we need to calculate taxes, but we also need to subtract things like

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