Catégorie : Bookkeeping

Normally, the company performs monthly bank reconciliation to make sure that accounting records are correctly shown the right amount. It just transfers from one account to another account under the same class. The balance in the petty cash account is now $300, which is where it was originally authorized to be. If https://quick-bookkeeping.net/ you have… Poursuivre la lecture 8 4 Define the Purpose and Use of a Petty Cash Fund, and Prepare Petty Cash Journal Entries Principles of Accounting, Volume 1: Financial Accounting

The next step is to add the total par value of common stock and the additional paid-in capital. This gives the total amount of capital that the company has received from issuing shares of common stock. For example, if a company has a total par value of $1,000 and additional paid-in capital of $119,000, the… Poursuivre la lecture How to Find the Common Stock on a Balance Sheet in Accounting Zacks

Your bank will ding you for depositing a bad check even though it wasn’t your fault. Another option is to have a backup account, such as savings or a line of credit, from which funds could be transferred to your checking account if an overdraft occurs. https://business-accounting.net/ Some banks and credit unions charge overdraft protection… Poursuivre la lecture What Is Rubber Duck Debugging?

Continuous improvement, innovation, market trends, etc. in the market lead to the production of new and improved assets. It causes a reduction in the monetary value of assets which are currently being used. This whole process of an asset becoming out of date and losing its economic value is called Obsolescence. Inventory refers to the… Poursuivre la lecture Determining the Loss of Asset Value from Functional Obsolescence

I’ve also never had a problem with dealers when I tell them I’m not buying any add ons. Lots Lots of young people and 1st time buyers don’t know that they don’t have to buy extended warranty, etc. so these laws help those people. This law is not intended for someone that knows everything about… Poursuivre la lecture Mount Orab, Ohio Sales Tax Rate 2023