For example, the general ledger account, Equipment, shows the historical cost of the total equipment owned by the firm. Since the company is using the perpetual method, a credit is made to Inventory.Jan. 31An adjusting entry is made to recognize insu... Read more
It has extensive reporting functions, multi-user plans and an intuitive interface. Sage 50cloud is a feature-rich accounting platform with tools for sales tracking, reporting, invoicing and payment processing and vendor, customer and employee managem... Read more
Once the buyer and the seller agree upon the terms of the sale and the buyer has accepted the terms of the proforma invoice—usually by submitting a purchase order that the seller has accepted—the transaction is ready to proceed. When the goods are re... Read more
If a company they invest in makes a profit, then they also have a chance to make a profit as well. On the other hand, if a company does poorly, they will also have to face a loss. The amounts paid to the corporation by the original stockholders are r... Read more
Treasury stock, or reacquired stock, is a portion of previously issued, outstanding shares of stock that a company repurchased from shareholders. For example, unrealized gains or losses on securities that have not yet been sold are reflected in other... Read more
If this figure is negative, it may indicate an oncoming bankruptcy for that business, particularly if there exists a large debt liability as well. These are the shares that the company buys back, whether to prevent a rival from trying to take over th... Read more
These new reporting requirements are in addition to the existing requirement to report employment income in Box 14, "Employment Income" or Code 71, "Indian – Employment". Follow this simple guide to how to save money toward your financial goals, like... Read more
Finally, the calculated value in cell B7, $1,216.65, is the balance in your savings account after five years. To find the compound interest value, subtract $1,000 from $1,216.65; this gives you a value of $216.65. Return on investment is a financial ... Read more
Note that net profit takes all business expenses into account, not just the cost of goods. This example illustrates the importance of having strong gross and operating profit margins. Weakness at these levels indicates that money is being lost on bas... Read more
The materials are recorded using actual quantity and standard cost. Are costs that management expects to incur to provide a good or service. They serve as the “standard” by which performance will be evaluated. For example, fast-food resta... Read more
