Categoría: Bookkeeping

So far, it’s vastly exceeded those expectations, generating nearly $1.4 billion alone last quarter, which coincided with a better-than-expected April for tax collections overall. Spilka, asked by OTR host Sharman Sacchetti whether the $1 million threshold for the transfer tax proposal was “set too low” considering the volume of Massachusetts homes that are worth more… Seguir leyendo Crushing It: Advocates praise Mass surging Millionaires Tax revenue

It focuses on content related to movies that are about to be released into cinemas. Deferring is a good option when one has trouble making outright payments. https://www.kelleysbookkeeping.com/financial-statements-examples/ If you are looking to defer your monthly installments for the loan, then you may do so without worrying about the impact on your credit score. What… Seguir leyendo What is deferral in accounting? Sage Advice US

So, if we total all the columns up, whatever period the purchases journal is run for, we can make the lump sum ($1,540) journal entry into the accounting software. That being a credit to the accounts payable, a debit of $1,140 to inventory, a $270 debit to office supplies, and a debit of $130 to… Seguir leyendo What is a Purchase Journal? Example, Journal Entries, and Explained

The quick ratio measures a company’s ability to cover its current liabilities with cash or near-cash assets. A quick ratio offers a more conservative evaluation of the firm’s liquidity position, but the current ratio calculation includes more asset and liability classes in its calculation. Assets such as inventory and pre-paid assets are included in the… Seguir leyendo What Is Quick Ratio? Importance, Formula, Example, and Pros

In addition, consider a technology manufacturing company that shelves units that may not operate as efficiently with age. For example, a company that sells seafood products would not realistically use their newly-acquired inventory first in selling and shipping their products. In other words, the seafood company would never leave their oldest inventory sitting idle since… Seguir leyendo Understanding the FIFO Method: Benefits and Applications

If you file a joint return, the NOL deduction is limited to the income of that spouse. You can’t deduct net losses in excess of a threshold amount in the current year. The amount of the excess business loss is treated as an NOL for the current year for purposes of determining any NOL carryover… Seguir leyendo Net Operating Loss NOL: Definition and Carryforward Rules

Then, for internal purposes, such as in the case of investor reporting, the same company can use the FIFO method of inventory accounting, which reports lower costs and higher margins, which is attractive to investors. In periods of rising prices, notes payable definition constant increases in costs can create a credit balance in the LIFO… Seguir leyendo LIFO Reserve Overview, Formula, Journal Entry

Visit our software FAQ to learn more about how we use technology to provide high-quality remote bookkeeping services. HHC Inc. was founded to bring together extensive knowledge, a broad client background, and expertise in public accounting services. Ultimately, the focus is to enhance fresno bookkeeping services the relationship and service provided to their clients. If… Seguir leyendo HHC Inc Certified Public Accountants located in Fresno, CA

Visit our software FAQ to learn more about how we use technology to provide high-quality remote bookkeeping services. HHC Inc. was founded to bring together extensive knowledge, a broad client background, and expertise in public accounting services. Ultimately, the focus is to enhance fresno bookkeeping services the relationship and service provided to their clients. If… Seguir leyendo HHC Inc Certified Public Accountants located in Fresno, CA

Both measures show how much profit a company makes on each sale but differ in how they calculate this figure. The gross margin varies by industry, however, service-based industries tend to have higher gross margins and gross profit margins as they don’t have large amounts of COGS. On the other hand, the gross margin for… Seguir leyendo Net Profit Margin Definition, Formula and Example Calculation