Bookkeeping

On the general ledger, there must be an offsetting entry for the balance sheet equation (and thus, the accounting ledger) to remain in balance. If you’re wondering how on earth you keep track of all these accounts, the answer is

Accrued rent receivable is an accounting term that refers to the amount of rent a property owner or landlord has earned but has not yet received from a tenant. This receivable arises when a tenant has used a rented property

Unlike intangible assets, tangible assets may have some value when the business no longer has a use for them. For this reason, depreciation is calculated by subtracting the asset’s salvage value or resale value from its original cost. The difference is depreciated evenly