Archives: Ron Pearson

Author

Ron Pearson

Ron Pearson, the plant economist, has extensive experience in the preparation of accounting in the company, is engaged in document circulation, preparation and sending of accounting and tax reports to regulators, a specialist in the preparation of training programs, an online consultant on issues of finance, accounting, and reporting. Email: ron_pearson@www.kelleysbookkeeping.com, Phone: 484-995-5921

Accounting Methods To Determine Salvage Value

If you prefer to opt out, you can alternatively choose to refuse consent. Please note that some information might still be retained by your browser as it's required for the site to function. For freelancers and SMEs in the UK & Ireland, Debitoor adhe... Read more

Petty Cash Definition

Balancing the petty cash account usually occurs when the fund needs to be replenished. The petty cash custodian brings all the slips or vouchers to the business' bookkeeper, cashier, or accountant. The petty cash receipts are logged into the company'... Read more

Self Employment Taxes

Contributing to a tax-advantaged retirement plan can reduce your taxable income each year, while also growing your future nest egg. Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool m... Read more

Sales Tax Definition

In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue fro... Read more

Are Sales Discounts Reported As An Expense?

As such, each of these types of costs will need to be accounted for across a company’s financial reporting in order to ensure proper performance analysis. Subtract the total sales discounts from the gross sales revenue you earned in the period ... Read more

Equity Definition

Also, higher profits through increased sales or decreased expenses increase the amount of owner’s equity. The withdrawals are considered capital gains, and the owner must pay capital gains tax depending on the amount withdrawn. Another way of l... Read more

How To Record A Sale Or Payment

When one institution borrows from another for a period of time, the ledger of the borrowing institution categorises the argument under liability accounts. Expense accounts run the gamut from advertising expenses to payroll taxes to office supplies.Fo... Read more

9 Tips For Small Business Taxes

Business owners are able to claim a myriad of deductions. However, these are pretty difficult to calculate. You also don’t want to claim too many deductions and risk an audit.What if your business isn’t eligible for many deductions? You m... Read more

Fixed Asset Accounting Made Simple

Proceeds may cover only the fair market value of the asset. If the insurance policy carries a coinsurance clause, you are required to carry insurance to cover at least 60% of the asset’s fair market value. Accounting regulations and standards a... Read more