October 30, 2016 admin

Training—New

Expenses

TRAINING—NEW EXPENSE ACCOUNT
7140

ACCOUNT EXPLANATION
Costs of training employees of the new vehicle department. Includes tuition, travel, meals, and lodging resulting from attendance at training schools; training material and visual aids used in the new vehicle department; and payments to commission salespeople in lieu of commissions for attending training courses.
TRANSACTIONS
  Jrnl. Dr. Cr.
  New vehicle salesperson’s travel, meals and lodging expenses incurred in attending Ford Marketing Institute training course CD
    Training—New 7140
      Cash in Bank—General 1001
             
  Purchase of new vehicle training film P
    Training—New 7140
      Accounts Payable—Trade 2100
             
  Parts account billing for training new vehicle salespeople at Ford Marketing Institute P
    Training—New 7140
      Accounts Payable—Trade 2100
COMMENTS
  • If the new car and new truck activities are organized as separate departments, charges to this account should be distributed directly to the departments generating the expense. See Departmentalization for further information.