However, if you replace a component of a depreciable asset, capitalize the removal costs if the replacement is an improvement and deduct the costs if the replacement is a repair. If you do not want to deduct circulation costs as a current business ex... Read more
The adjusting journal entry for a prepaid expense, however, does affect both a company’s income statement and balance sheet. The adjusting entry on January 31 would result in an expense of $10,000 and a decrease in assets of $10,000 .... Read more
In New Zealand, "Bonus Bonds" were established by the NZ Government in 1970 and sold to ANZ Bank in 1990. In August 2020 it was announced that the scheme would close due to low interest rates reducing the prize pool. At the time of the announcement t... Read more
See Online and Mobile Banking Agreement for details. Payroll, unemployment, government benefits and other direct deposit funds are available on effective date of settlement with provider. Please check with your employer or benefits provider as they m... Read more
An undue focus on net income can mask other problems in a company, such as excessive use of working capital, declining cash balances, obsolete inventory, heavy debt usage, and so forth. The increase in Adjusted Operating Income was primarily driven b... Read more
In the corporate world, there are various types of preference shares. Their rate remains unchanged throughout the maturity life of preference share. If preferred shareholders want to invest in the preferred stocks, they need to look at the prospectus... Read more
Available balance is the most current record we have about the funds that are available for your use or withdrawal. It includes all deposits and withdrawals that have been posted to your account, then adjusts for any holds on recent deposits and any ... Read more
Alternatively, the cashier could simply count out the cash for the petty cash fund, if there are enough bills and coins on the premises. The initial petty cash journal entry is a debit to the petty cash account and a credit to the cash account. Used ... Read more
Bench gives you a dedicated bookkeeper supported by a team of knowledgeable small business experts. We’re here to take the guesswork out of running your own business—for good. Your bookkeeping team imports bank statements, categorizes transacti... Read more
Even a company that manufactures small consumer products will have ongoing activities and costs that overlap two years or more. Again, the accountants will assume that the revenues and costs can be assigned or allocated to the appropriate accounting ... Read more
