When you accrue interest as a lender or borrower, you create a journal entry to reflect the interest amount that accrued during an accounting period. This journal entry is made to eliminate the interest payable that we have recorded previously from the balance sheet. Here's...
This stock is a previously outstanding stock that is purchased from stockholders by the issuing company. If the company wanted to, it could pay out all of that money to its shareholders through dividends. However, the company typically reinvests the money into unit cost definition...
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ContentChallenges of Valuing and Tracking In Kind DonationsTalk to a dedicated nonprofit accountant to make sure your in-kind donations are recorded properly.What are The Pros and Cons of In-Kind Donations? - What Is an In-Kind Donation?Types of In-Kind DonationsDangers of In-Kind DonationsHow to Calculate In-kind...
ContentWhat affects the working capital cycle?See advice specific to your businessWhat working capital means for a businessWorking capital and the balance sheetWe can help your business growWorking capital: why it’s important to your business The working capital requirement therefore is the amount of finance you need...
TechGadgets Inc., has an outstanding AR balance that needs careful examination to gauge its creditworthiness. With an anticipated invoice for $5,000 from a customer, TechGadgets Inc. must factor in a collection cost of $200. Additionally, considering customer liquidity problems or poor economic conditions, the company...
Running a business is a learning process – and just like your employees, you can learn and improve. Sometimes people just won't fit into your culture, which is again why making the right employee choice is so important. Firing people should be a last resort...
ContentIncome Statement Impact of Bad StandardsFeatured BusinessesIs Standard Costing For Determining Profitability?Standard Costing’s Time Has Finally Come…To Its EndJoin PRO or PRO Plus and Get Lifetime Access to Our Premium MaterialsCorrections Impact of Bad StandardsWhat are the features of Standard Costing? Assume, for example, that in...
Contents:Silicon Valley Bank Failure. What You Need to Know About the SVB CollapseItemize All Incoming and Outgoing TransactionsRent Manager This is an article unto itself, but suffice it to say, talk to a professional accountant or CPA to make sure you get this right. The same...
ContentSelf-employment tax FAQPaying self-employment taxHow the Self-Employment Tax WorksSelf-employment income tax basicsHow to pay yourself in an LLCCalculate your self-employment tax If you drive for Uber only on the weekends or sell the occasional piece of jewelry on Etsy, self employment tax liable for the full...