On the other hand, direct costs can be easily traced to a product or service. If you manufacture baseball gloves, for example, you can compute the amount of leather material you use in each glove, and the amount of labor cost it takes to run machines... Read more
One of the most used features on QuickBooks Online is the invoice tool. We'll show you how to create an invoice, make recurring invoices, send reminders, and more. I’d advise Russel to hire a part-time assistant to reduce the risk of sinking ne... Read more
Companies prepare a trial balance is to maintain a balance between credit and debit sum on a balance sheet. If they are unequal due to any reason, it will indicate an error that needs to locate.Appointment Scheduling 10to8 10to8 is a cloud-based appo... Read more
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
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
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
