A healthy cash position signifies stability and flexibility, while insufficient cash reserves may signal financial vulnerability. Cash and cash equivalents, often referred to as “cash and equivalents” in financial circles, represent a crucial aspect of...
Read More →The double declining balance method achieves this by front-loading expenses, double declining balance method which can be useful for assets generating higher revenues in their early years. For comparison’s sake, this is what XYZ Company...
Read More →If you want to do some deep digging into your finances, you should explore them. Every element of your finances is covered, including Spending, Tax, and Investing. None of the personal finance apps I’ve tested...
Read More →There are a couple exceptions, but the IRS typically requires you to file within three years of a tax return’s original due date in order to get that refund. The IRS will need to know...
Read More →Section 280E isn’t the only IRS-related challenge that medical marijuana businesses face. If you operate in this industry, you’ll be subject to additional reporting requirements under IRS Form 8300 for cash transactions that are over...
Read More →If a discount or coupon reduces the price, the taxable amount is typically the price after the discount is applied. Some states, however, may still tax the original price before the discount, so you need...
Read More →To record the accrual of interest, debit the Interest Expense account, if you’re the borrower, reflecting the cost of borrowing funds. Credit bookkeeping for cleaning business the Accrued Interest Payable account, which recognizes a liability...
Read More →Equity refers to the investment made by the company owner or other investments in the business. Generally, it comprises any claims the ownership of the company has against the company. This beginner’s guide will review...
Read More →As you will learn in Corporation Accounting, there are three components to thedeclaration and payment of dividends. The first part is the date ofdeclaration, which creates the obligation or liability to pay thedividend. The second...
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