Arquivo da categoria: Bookkeeping

Let us have a look at how the data points and the line of best fit obtained from the Least Square method look when plotted on a graph. Another way to graph the line after you create a scatter plot … Continue lendo →

For instance, rent and insurance, when prepaid, become assets because the benefit will be realized in the future. Advances given to employees can be categorized as prepaid expenses only in situations where the funds are given to an employee who … Continue lendo →

And fittingly, there are two entries in the history books for who documented the double-entry system. Some credit Benedetto Cotrugli and his 1458 book Of Commerce and the Perfect Merchant. But most regard Luca Pacioli as the father of bookkeeping, … Continue lendo →

In GP, the ratio between consecutive terms is constant. Given the arithmetic progression 7, 13, 19,…, find the common difference. A sequence with a finite number of terms is called a finite sequence and similarly, a sequence with an infinite … Continue lendo →

Wave Payroll is cloud-based payroll software designed to help small business owners simplify and automate payroll processes while remaining compliant with taxes and deductions. This is an additional service that is only available in the U.S. and Canada. Compared to … Continue lendo →

In an unequal partnership bonus is distributed according to the partnership agreement. Assume that a sole proprietor agreed to admit a single equal partner for a certain amount of money. The sole proprietor, Partner A, will give the new partner, … Continue lendo →

A periodic inventory system is an inventory system that updates inventory once at the end of a specific period of time. Physical counts may be conducted monthly, quarterly, or annually depending on the business. A periodic inventory system allows businesses … Continue lendo →

Go to IRS.gov/Payments for information on how to make a payment using any of the following options. The following IRS YouTube channels provide short, informative videos on various tax-related topics in English, Spanish, and ASL. The following is a list … Continue lendo →

This decision will be different for everyone, but most Americans choose the standard deduction. Sales tax can be deducted from federal income tax only if deductions are itemized. In general, taxpayers with sales tax as their only deductible expense may … Continue lendo →

Our writing and editorial staff are a team of experts holding advanced financial designations and have written for most major financial media publications. Our contribution margin ratio work has been directly cited by organizations including Entrepreneur, Business Insider, Investopedia, Forbes, … Continue lendo →