Expense: Debit or Credit?
Credits actually decrease Assets (the utility is now owed less money). If the credit is due to a bill payment, then the utility will add the money to its...
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24 Oct
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18 Oct
Working Capital: Definition, Formula, and Management
Working capital is calculated by deducting current liabilities from current assets. The numbers needed for the calculation can be found on what is an invoice number a company’s balance...
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21 Sep
Direct Method Overview, How To Use, Accrual Method
The reconciliation report begins by listing the net income and adjusting it for non-cash transactions and changes in the balance sheet accounts. The second is the informational needs; the...
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15 Sep
Debtor legal definition of debtor
In financial reporting, debtors are generally classified according to the length of debt repayments. For example, short-term debtors are debtors whose outstanding debt is due within one year. The...
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22 Sep
FICA and Withholding: Everything You Need to Know
Alternatively, they can allow up to 20% of the maximum allowed contribution to be rolled over to the next year. Funds not used or rolled over are absorbed back...
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17 Mar
Simple Interest Calculator I = Prt
Thanks to our compound interest calculator, you can do it in just a few seconds, whenever and wherever you want. In finance, the interest rate is defined as the...
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22 Feb
Solved dicussion Why do we need an estimate of Bad Debts? Why do we ..
But what happens if your allowance for doubtful accounts already has an account balance? In that case, your adjusting entry will just be the difference between what’s currently on...
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17 Nov
Accountants For Freelancers
Whether you’re new to contracting, keen to learn more about our services or have any specific questions, we’d be delighted to hear from you. You can tailor our packages...
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30 Sep
ABC Model of Cognitive Behavioral Therapy: How it Works
I lie awake feeling angry and upset and don’t get back to sleep for a long time. To use this costing system, you need to understand the process of...