Category: Bookkeeping

On April 1, company A borrowed $100,000 from a bank by signing a 6-month, 6 percent interest note. Below is how the transaction will appear in company A’s accounting books on April 1, when the note was issued. To calculate notes payable, you need to consider the principal amount borrowed, the interest rate, and the…

And when your expense process is slow and cumbersome, it can really add up. Expense automation technology helps a business take a more proactive approach by providing real-time visibility into expenses. This allows a business to better monitor spend patterns, analyze trends, and gain valuable insights for better decision-making. Perhaps one of the most important…

Content Advantages and Disadvantages of the Perpetual Inventory System b. Periodic Inventory System How Do The Periodic Inventory Systems Work? How Inventory.com Helps Setting Up Periodic Inventory system? What Is Periodic Inventory System? Perpetual and Periodic Inventory Mini Quiz: The answer is that we calculate and record cost of goods sold only at the end…

Any CPA you choose to look over your records is required by professional standards to issue you one of three different reports. Before any work is performed, your association will decide on what report they would like to be conducted. Depending on the size, scope, and complexity of your association, there will be a type…

Content Company Scaling Geometry How Much Does Scalefactor Cost? Popular Cities For Math Tutors Timeline Scale is used in geometry to make accurate reproductions of figures; they are different sizes but not proportion. You could create a ratio of left-handed students to all students, but that ratio is not a scale factor. In February 2020,…

It is important to note that the dividends declared and paid by a corporation are not an expense of the corporation. This explains why state laws likely require corporations to have a credit balance in Retained Earnings before declaring and paying dividends. Practically speaking, the corporation must also have sufficient cash available to meet its…