And Apple Inc believes that outstanding debt is unrecoverable and is a bad debt now. When you sell a good to a customer, you’re getting rid of inventory. And, you’re increasing your Cost of Goods Sold (COGS) Expense account. Your Accounts Receivable total should equal the sum of your Sales Tax Payable and Revenue accounts. […]
Category Archives: Bookkeeping
Partial Year Depreciation ACCT 2101, University of Georgia In this example, the depreciation will continue until the credit balance in Accumulated Depreciation reaches $10,000 (the equipment’s depreciable cost). If the equipment continues to be used, no further depreciation expense will be reported. The account balances remain in the general ledger until the equipment is sold, […]
The Ultimate Guide to Updating Your Tax Withholding Your employer must implement any change by the start of the first payroll period ending on or after the 30th day after you submit a new W-4 form for this year. Ensuring your tax withholding is accurate can save you from unexpected tax bills or penalties. All […]
Accrual accounting allows you to match your expenses to the revenue they generate, so you can make more informed decisions and better projections. This explains why it is the most recommended option required by Generally Accepted Accounting Principles (GAAP) for nonprofits. This means that if you receive a pledge from an individual or organization but […]
The lower the expense ratio the better because an investor receives higher returns on their invested capital. The Fidelity Contrafund (FCNTX) is one of the largest actively managed funds in the marketplace, with an expense ratio of 0.39% ($39 per $10,000 invested). This fund is much expense check meaning more highly weighted toward communication services […]
We’re a highly engaged, small business payroll company near Chicago, Illinois. We’re an accountant near Chicago Illinois that serves small businesses across the United States, and while we serve any types of small business, here are just a few of the industries we specialize in. Our 75-point review highlights what needs improvement for better accuracy and […]
One of the most flexible and accessible types of business, trade credit is one of the most popular types of short-term financing for U.S. small businesses, according to the FDIC. According to a 2021 Melio survey, over 50% of entrepreneurs have gotten paid late before. While net 30 has been a standard payment term for […]
The net of the asset and its related contra asset account is referred to as the asset’s book value or carrying value. Since depreciation is not intended to report a depreciable asset’s market value, it is possible that the asset’s market value is significantly less than the asset’s book value or carrying amount. The accounting […]
¿Qué es YouTube Music? Ayuda de YouTube Music The meanings of all eight of the newspaper’s publications were found to be “substantially true”, the judge, Mrs Justice Steyn, said in a summary of the findings. Londoner Clarke won the Most Promising Performer award in 2003 at the Olivier Awards for his performance in Where Do […]
The Accounting degree is designed to provide the knowledge necessary for immediate employment at an entry or intermediate level accounting, recordkeeping, or clerk position with many private sector and government organizations. The degree is also designed to provide an excellent base of knowledge for those who would like to pursue an advanced degree in accounting, […]