The goods that were stored in WIP that have completed the manufacturing process are credited to the WIP inventory account and debited to the finished goods inventory. Superior Glass also incurs $1,250 in factory overhead costs during the accounting p... Read more
The post-closing trial balance contains real accounts only since all nominal accounts have already been closed at this stage. A Post-closing Trial Balance lists all the balance sheet accounts that have a non-zero balance at the end of a reporting per... Read more
Financial StatementsFinancial statements are written reports prepared by a company's management to present the company's financial affairs over a given period . Shares IssuedShares Issued refers to the number of shares distributed by a company to its... Read more
They are cumulative earnings that represent what is leftover after you have paid expenses and dividends to your business’s shareholders or owners. Retained earnings are also known as retained capital or accumulated earnings. Not every business... Read more
Although statement of retained earnings are not themselves an asset, they can be used to purchase assets such as inventory, equipment, or other investments. Therefore, a company with a large retained earnings balance may be well-positioned to purchas... Read more
This will depend on the nature of the account and whether it is a liability, asset, expense, income or an equity account. When you buy or sell goods and services, you must update your business accounting books by recording the transaction in the prop... Read more
We believe everyone should be able to make financial decisions with confidence. For those trying their hand at self-employment, QuickBooks Self-Employed does an excellent job, especially if you pay for a subscription for the tax bundle, which makes t... Read more
If you want to track job costs and tasks, you can do that as well. Intuit Online Payroll users will be able to close out the calendar year of 2021 before the transition, at which time Intuit will assist with the move to make the change as seamless as... Read more
In the United States, the CPA is a license to provide accounting services to the public. Additionally, all states except Hawaii have passed mobility laws to allow CPAs from other states to practice in their state. State licensing requirements vary, b... Read more
Email format may vary from company to company and the email format of the company remain constant throughout the employees. Email format of the company can help you decode email of all the people working in that company, making it easier propeller in... Read more
