The gross profit would be $11,800 ($19,000 Sales – 7,200 cost of goods sold). The journal entries for these transactions would be would be the same as show above the only thing changing would be the AMOUNT of cost of goods sold used in the Jan 8 and ... Read more
Under the Exchange Act, audited transition-period financial statements would not need to be filed until the company files its December 31, 2009 Form 10-K. However, a registration statement declared effective after November 14, 2009 (based on the 45-d... Read more
They also can be used to meet unpaid child-support obligations or pay past federal debts, such as student loans. The current tax-return filing season appears to have gone off reasonably smoothly, despite new rules ushered in by tax reform. In an onli... Read more
In corporate finance, the debt-service coverage ratio is a measurement of the cash flow available to pay current debt obligations. There are other instances when notes payable or a promissory note can be issued, depending on the type of business you ... Read more
As a result, Oak will deduct the real estate taxes as rent on its tax return for the earlier year. This is the year in which Oak's liability under the lease becomes fixed. Generally, if the special rules apply, you must use an accrual method of accou... Read more
Fees depend on provider and course type; self-study courses average $1,300 and live courses average $3,000. Select review course providers offer MNCPA group discounts . Remember that your preparation can help you pass each section the first time and ... Read more
Accrued interest is the accumulated interest that has been recognized and recorded but has not been paid as of a specific date. The main variables that affect the calculation are the period between interest payments and the day count convention used ... Read more
Some of the tools for evaluating alternatives (e.g. partial budgets, cash flow budgets and financial statements), are covered in this text. Summarizes many cash activities and the related financial statement accounts used to analyze each listed activ... Read more
As consumers, we know insurance is not the most exciting product to buy and we don't always give it the thought it deserves. Expense-consciousness, whether coming from our own pockets or our businesses, can blind us from looking beyond the cheapest p... Read more
Managing working capital with accounting software is important for your company’s health. Positive working capital means you have enough liquid assets to invest in growth while meeting short-term obligations, like paying suppliers and making in... Read more
