Bookkeeping

You then apply the cost indexes to each year’s ending inventory to figure end-of-year inventory in base-year dollars — each year of increase creates a new LIFO layer. By reinflating and adding the annual constant-dollar changes to base-year ending inventory cost, you derive the cost of your current ending inventory. Most companies use the first […]

As the company ABC owns 30% of shares of ownership, under the equity method, it needs to record 30% of XYZ’s net income which is $150,000 ($500,000 x 30%)as an increase in the stock investments. And at the same time, it also needs to record the dividend received of $18,000 ($60,000 x 30%) as a

Let’s say that Company A has $12 million in stockholders’ equity, $2 million of preferred stock, and an average of 2,500,000 shares outstanding. You can use the book value per share formula to help calculate the book value per share of the company. Book value per share is the portion of a company’s equity that’s

For example, a transaction that may not yet have cleared the trust bank account could be recorded in the client ledger, but may not yet be visible on the trust account bank statement. This reconciliation process allows you to confirm that the records being compared are complete, accurate, and consistent. Most importantly, reconciling your bank

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In general, wages or any compensation subject to FICA taxes qualify for the ERC. As we mentioned above, you can only claim this credit on wages that are not expected to be forgiven or are not forgiven under the Paycheck Protection Program. In March 2020, the CARES Act gave employers the option to take the

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It is therefore important to understand what interest is, where compounding interest fits in and how to use it in your everyday life. Having a longer investment horizon is important as the effect of compound interest may not be obvious in the short term, but will be realised over time. While young people may not

As a researcher, you’ll need to think carefully about all the factors that could vary within your research context and then consider how you’ll go about controlling them. A good starting point is to look at previous studies similar to yours and pay close attention to which variables they controlled for. While the independent variable

Calculating the setup or ordering cost is very easy as it is usually a fixed cost and is not very prone to fluctuation. You might want to invest in setup funds as they might help you buy stock for a cheaper price in a turbulent market that is likely to shift. To minimize holding and