Use tax is 5% on non-exempt personal property imported to Guam. Alcoholic beverage tax varies depending on the beverage. Additionally there are tobacco taxes, real property taxes, amusement taxes, recreational facility taxes, and liquid fuel taxes.... Read more
Prepare a vertical analysis of the income statement data for SPENCER Corporation in columnar form for both years. To see the trend of various income statement and balance sheet figures of a company. This can happen when the analyst modifies the numbe... Read more
Deductions are important in understanding how well a business is selling its product or service. If you don’t consider them, you might not account for different strategies your sales team is employing or different ways they could be more effici... Read more
Investors are typically interested in GP as a percentage because this allows them to compare margins between companies no matter their size or sales volume. For instance, an investor can see Monica’s 65 percent margin and compare it to Ralph La... Read more
The first one, of course, is to consider, from the auditor’s perspective, whether there are any conditions or events that cause or raise substantial doubt about the ability to continue as a going concern. It is the responsibility of the busines... Read more
To illustrate, assume that a company sells ten thousand gift cards with a redemption value of $50 each. Revenue cannot be recognized when sold because the earning process is not substantially complete. Rather, a liability (such as “unearned rev... Read more
Other ledger formats list individual transaction details along with account balances. By this same analogy, a ledger could be considered a folder that contains all of the notebooks or accounts in the chart of accounts. For instance, the ledger folder... Read more
Match the beginning balance in the account to the ending reconciliation detail from the prior period. While keeping a GL accurate and up-to-date takes effort, the return is real-time insights for the business.... Read more
She has also been published in "The Branson Insider" newspaper. Griffin is a CPR/first-aid instructor trainer for the American Red Cross, owns a business and continues to write for publications. She received a Bachelor of Arts in English composition ... Read more
3, 2021Invoice #123($600)The money is being removed from accounts receivable—your client doesn’t owe you $600 anymore—so it’s listed as a credit . Going through every transaction and making journal entries is a hassle. But with Bench, all... Read more
