Miscellaneous Food Crops

 Posted on Posted on: 29.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on Miscellaneous Food Crops

The earned income tax credit is worth up to $6,557 for a family with three or more children. One out of five taxpayers who are eligible for the credit fails to claim it, according to the IRS. Some taxpayers miss this valuable credit because they are …

Difference between paid in capital and retained earnings

 Posted on Posted on: 29.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on Difference between paid in capital and retained earnings

All paid-up capital is listed under the shareholders’ equity section of the issuing company’s balance sheet. Legal capital is that amount of a company’s equity that cannot legally be allowed to leave the business; it cannot be distributed through a d…

In Accounting, What Is the Difference Between a Liability Account and an Expense Account?

 Posted on Posted on: 29.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on In Accounting, What Is the Difference Between a Liability Account and an Expense Account?

The payment of the insurance expense is similar to money in the bank, and the money will be withdrawn from the account as the insurance is “used up” each month or each accounting period. Prepaid insurance is usually considered a current asset, as it …

How useful is ROCE as an indicator of a company’s performance?

 Posted on Posted on: 28.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on How useful is ROCE as an indicator of a company’s performance?

The opening balance is the amount of funds in a company’s account at the beginning of a new financial period. It is the first entry in the accounts, either when a company is first starting up its accounts or after a year-end. The opening balance may…

Return on common stockholders' equity ratio

 Posted on Posted on: 28.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on Return on common stockholders' equity ratio

An investor could conclude that TechCo’s management is above average at using the company’s assets to create profits. Relatively high or low ROE ratios will vary significantly from one industry group or sector to another….

Sales journal entry

 Posted on Posted on: 28.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on Sales journal entry

The net sales figure on an income statement shows how much revenue remains from gross sales when sales discounts, returns and allowances are subtracted. 3/7 EOM – this means the buyer will receive a cash discount of 3% if the bill is paid within 7 da…

What to Do About Returned Checks

 Posted on Posted on: 28.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on What to Do About Returned Checks

Tell them you’re trying to build good credit you want to make sure that this bad check someone wrote you doesn’t sabotage the process. If they do report to either those bureaus you can request a free copy of your report each year. Those reports are u…

Purchase Discount in Accounting

 Posted on Posted on: 25.09.2020 Modified on: 11.01.2022Categories Bookkeeping 101  Leave a comment on Purchase Discount in Accounting

And if the payments are not made in time, an anti-revenue account name purchase discounts lost is debited to record the loss. Next, let’s assume that the corporation focuses on the bad debts expense. As a result, its November income statement will be…