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
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
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
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
SG&A (alternately SGA, SAG, G&A or SGNA) is an initialism used in accounting to refer to Selling, General and Administrative Expenses, which is a major non-production cost presented in an income statement . Full costing is a managerial accounting met... Read more
Now let's assume that another company pays its employees semimonthly on the 15th day and the last day of every month. If it hires a new employee at an annual salary of $52,000 the employee will be earning $2,166.67 ($52,000 divided by 24 paydays) dur... Read more
If the borrower is able to provide documentation to disprove any adverse information , the lender may deliver the loan as a DU loan. It looks like we're having some trouble accessing your Credit Karma account. We’re working hard at getting ever... Read more
