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Account numbers are placed in parentheses below the column to indicate that the total has been posted. Many companies use a multi‐column sales journal that provides separate columns for specific sales accounts and for sales tax payable. Each line in ... Read more
Recall that revenue is the value of goods and services a business provides to its customers and increase the value of the business. Expenses, on the other hand, are the costs of providing the goods and services and decrease the value of the business.... Read more
For example, a state might exempt nonprofit organizations and businesses with few employees from paying state unemployment taxes. Generally, unemployment taxes are employer-only taxes, meaning you do not withhold the tax from employee wages. However,... Read more
A sole proprietor or single-member LLC, reporting business income and expenses on Schedule C does not have to report a balance sheet as part of the tax return. A limited liability company is a corporate structure that protects its investors from pers... Read more
Enter the total amount into the income statement as the selling and administrative expenses line item. Subtract the cost of goods sold total from the revenue total on your income statement. This calculation will give you the gross margin, or the gros... Read more
Advance refunding is the withholding of a new bond issue's proceeds for more than 90 days before using them to pay off an outstanding bond issue. A bond is a fixed-income investment that represents a loan made by an investor to a borrower, ususally c... Read more
When it comes to comparing a multi-step income statement vs a single-step statement, it is important to consider the type of business you operate. In such a structure, a specific segregation/split is made between the revenue and expenses on the basis... Read more
Before proceeding, we must clarify what types of relationships we won't study in this course, namely, deterministic relationships. In other words, the R-square measure indicates that we can improve our prediction of calories in a beer by almost 84% i... Read more
The most enjoyable part of the job had to be helping people out and see them graduate the training class. I felt more than welcomed to be apart of the team. I would certainty recommend working here. Yelp users haven’t asked any questions yet ab... Read more
