In many cases, you need to have your financial records for at least three to seven years (varying by state and type of record) so losing them would cause a lot of problems. Monitor all invoices throughout the project…
This memo shows the amount and reason for the seller’s credit in the accounts receivable account, which accounts receivable in the event of a credit sale means that the amount gets a reduce. No matter what kind of business you’re…
If incremental cost leads to an increase in product cost per unit, a company may choose to raise product price to maintain its return on investment (ROI) and to increase profit. Conversely, if incremental cost leads to a decrease in…
Drawings are neither assets nor liability; that’s the reduction of the company’s equity and deducted from the owner’s equity. Some terminology may vary depending on the type of entity structure. Before taking money or other assets out of their company,…
A note payable is a promise in writing to pay a specific amount of money by a specific future date. Like accounts payable, notes payable are recorded as liabilities. Our creditor (liability) exists currently in our records at $200 on…
The precise answer is 12.379%, which appears if you set the initial investment to $1,000 with a final amount of $5,000, 10 years investment length, and $100 periodic deposit. However, keep in mind that the rate of return may have…
That company may have the best sense of data based on their prior use of trucks. Finance Strategists how to find salvage value has an advertising relationship with some of the companies included on this website. We may earn a…
FASB considers a significant influence criterion based on the ownership of outstanding securities whose holders possess voting privileges. If an investor has significant influence over the investee, it accounts for its investment under the equity method. Ownership levels as low…
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Likewise, the $20,000 of common stock in the journal entry above comes from the 20,000 shares of common stock multiplying with $1 of the par value (20,000 shares x 1$). The dividend on preferred stock is usually stated as a…