Content ch 1 questions.docx Corporation Transaction C7. Accounting Equation Outline What is the Expanded Accounting Equation? Sole Proprietorship Transaction #1. Use a​ « Clos. » posting reference to show the amounts that are posted while closing the books. The revenue and expense amounts should be combined into one closing entry for net…

As a hypothetical example, suppose a business purchased a $30,000 delivery truck, which was expected to last for 10 years. Under the straight-line depreciation method, the company would deduct $2,700 per year for 10 years–that is, $30,000 minus $3,000, divided by 10. This method takes most of the depreciation charges…

Now, let’s say that the company invests in a new piece of equipment that costs $500,000. The book value per share would still be $1 even though the company’s assets have increased in value. If a company’s BVPS is higher than its market value per share (the current stock price),…

Consequently, it’s not uncommon for individuals in recovery to have a heightened craving for sugary foods. And so, another thing is to make sure… Well, we talked, we touched on this briefly. But making sure you’re drinking at least half your body weight in ounces of water. One Thing To…

With deep industry expertise, Luke helps businesses enhance profitability, optimize cash flow, and achieve long-term financial stability. Construction cost accounting is a major factor for the success or failure of contractors and firms in the construction industry. We understand there’s a lot to consider, from overall project costs to budgeting…

Content FAS 115 How to Calculate Mark to Market Mark to Market (MTM) Mark-to-Market Accounting Use in Personal Accounting Mark to Market Accounting Video Consider a situation wherein a farmer takes a short position in 10 rice futures contracts. It is done in order to hedge against the trend of…

FreshBooks is great for self-employed individuals, sole proprietors and independent contractors. It is incredibly user-friendly and easy to navigate, so if you are a sole proprietor looking for basic accounting software, FreshBooks will meet your needs at a relatively low cost. Its basic plan is in line with QuickBooks Simple…

With other assets, we may find we would be taking more depreciation than we should. In the last year, ignore the formula and take the amount of depreciation needed to have an ending Net Book Value equal to the Salvage Value. Double Entry Bookkeeping is here to provide you with…

Content During tax season Understanding Stock Appreciation Rights Statutory Stock Options The Valuation of Option Subject to Default Risk Phrases Containing option Let’s chat about equity An IRS submission must be filed no later than February 28, 2007, less than three weeks after the IRS announced the Program. Section 409A…

When an account produces a balance that is contrary to what the expected normal balance of that account is, this account has an abnormal balance. The normal account balance is nothing but the expectation that the specific account is debit or credit. Few accounts increase with a “Debit” while there are…