In this example, if you have $4,000 in salaries expense, $1,000 in administrative expense, $2,000 in utilities expense and $3,000 in advertising expense, add these amounts to get $10,000 in total ...

General ledger accounts are set up in what's called the T-account format. In the cash account, revenue is on one side of the T, expense on the other, with entries in chronological order down the ...

However, they are presented on the company's balance sheet and the expenses that they represent are on the income statement. Key Takeaways Accounts payable is an account in a company's general ledger ...