Nick Gallo is a Certified Public Accountant and content marketer for the financial industry. He has been an auditor of international companies and a tax strategist for real estate investors. He now writes articles on personal and corporate finance,... Read more
United Airlines asked a bankruptcy court to allow a one-time 4 percent pay cut for pilots, flight attendants, mechanics, flight controllers, and ticket agents. The pay cut was proposed to last as long as the company remained in bankruptcy and was ex... Read more
Think about your expenses for everything listed above and you’ll get closer to figuring out how much labor costs. And labor cost percentage is a hugely important metric to pay attention to. For most businesses, the largest cost they endure is... Read more
That means being able to run your business, pay bills, and invoice clients everywhere you go. Whether you’re looking to spend more time on tasks that build your business’s revenue or want to have dinner with your family, KPMG Spark under... Read more
Therefore, the system is less suited to industries where product volumes and mixes fluctuate. Titles like these are often fine, but you might want to re-name them or add in additional categories that the tasks need to pass through. This could mean a... Read more
The manual journal entry are the entry that is done manually that is done by you when you are in the business process and procedure. And the business process must have the used the journal to calculate the tax and the calculation of the financing or... Read more
The cash was received, and a note promising to return the $ 80,000 on 2010 May 30, was signed. 7 Office equipment was purchased on account from Wagner Company for $ 76,800. 3 Paid rent for August on a building and laundry equipment rented, $ 3,000.... Read more
Par value may be any amount—1 cent, 10 cents, 16 cents, $ 1, $5, or $100. Common shares without par value are journalized by debiting cash (asset) for the amount received for the shares and crediting common shares (equity) for... Read more
‘Loan’ account is debited in the journal entry for a loan payment. The repayment of a secured or an unsecured loan depends on the payment schedule agreed upon between both the parties. A short-term loan is categorized as a current liabil... Read more
And we have an entire page that talks about convertible notes and some of their accounting (and strategic) implications. Without the conversion feature the bonds would have been sold for $98,000. In February 2020, the FASB decided to add a separate... Read more
