For example, if your annual interest rate is 3%, then your monthly interest rate will be 0.0025% (0.03 annual interest rate ÷ 12 months). For example, a four-year car loan would have 48 payments (four years × 12 months). Intangibles amortized over ti... Read more
Are you off by a large amount or a small amount? When I get really frustrated with a reconciliation, I typically start from scratch. Rather than reviewing the numbers you have written down, start over. Another thing you can try is to put the amounts ... Read more
However, your environment and lifestyle choices can sometimes cause your skin to age prematurely. To prevent premature skin aging, board-certified dermatologists recommend following these simple tips. Both the percentage of net sales and aging method... Read more
Take the time to stop by and review the tools and information we have for you there. You will have access to a world of data that can help you thrive personally or business sense. The Creditry store would be best if you want to learn how to boost you... Read more
Once as a “debit” to describe when money is flowing into an account, and again as a “credit” when money is flowing out of an account. Before accounting software, people had to do all of their accounting manually, using somethi... Read more
Assume that a company purchased a delivery vehicle for $50,000 and determined that the depreciation expense should be $9,000 for 5 years. Each year the account Accumulated Depreciation will be credited for $9,000. Therefore, after three years the bal... Read more
The largest source of accrued payroll is likely to come from salary and wages payable to employees. These are wages that are owed for the labor performed by your employees and are accounted as a liability until payday, when they become an expense. Ho... Read more
Although it is possible to record the interest on a daily basis, this involves excess record keeping. For this reason, a single adjusting entry is made at the end of the accounting period.Net Present Value is the value of all future cash flows over t... Read more
The offset to accrued revenue is an accrued asset account, which also appears on the balance sheet. Therefore, an adjusting journal entry for an accrual will impact both the balance sheet and the income statement. A prepaid expense is a type of asset... Read more
Accrual basis accounting without careful monitoring of cash flow can have potentially devastating consequences. In addition to accruals adding another layer of accounting information to existing information, they change the way accountants do their r... Read more
