Bookkeeping

Accounting for common stock is very critical ranging from the date of issue of common stock to dividend declared and paid. In the previous article, we covered the cost of comm stock equity calculation. In this article, we cover how to account for the issuance of common stock. This ranges from the journal entry for […]

If, for example, XYZ company expected to produce 400 widgets in a period but ended up producing 500 widgets, the cost of materials would be higher due to the total quantity produced. Yarilet Perez is an experienced multimedia https://bookkeeping-reviews.com/ journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities […]

They will understand the distinction between a subcontractor and an employee and know the importance of properly handling subcontractors. They will connect every item purchased to the job it was bought for and will ensure that purchase receipts are turned in to them with notes indicating which job it belongs to. A Sherman Oaks Accounting […]

Instead of using the bad debts expense account, we debited the allowance account instead. Receiving the cash from the previously written off receivable shows that the company makes an error in judgment to write off the account receivable in the first place. Any information about bad debts that is present outside the trial balance is […]

This account holds all the receivable balances which may come from various customers. The uncollectibility rates above must be based on experiences with customers—it should not be arbitrary. As the receivable remains outstanding for a longer time, the uncollectibility rate increases because it becomes more evident that the customer cannot pay. The Accounting Equation We […]

Not only does invoice tracking allow you to know where exactly your money is going, but it can also be useful if for some reason you ever need to prove business expenses. While bookkeeping in the construction industry can be challenging due to its many considerations, it’s an essential part of successfully running a construction […]

(a) Work in process – Mixing Department $64,000 However, since the production process takes three weeks to complete, all the units produced in the last half of March will be in WIP inventory at the end of March. Round equivalent unit of production costs to four decimal places. The Mixing Department beginning work in process […]

Contents: Search Google Appliance IBM 407 accounting machine [Hospital use of mechanical bookkeeping machines] ATM Machine Financial Model: 10 Year They are useful for multiplication, division, addition and subtraction; calculation of discount, interest, wages etc. The calculators help to reduce human labour in arithmetical calculations. The chances of these mistakes are completely removed by the […]