Bookkeeping

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In general, unless it is a very high-end retail outlet with exclusive and expensive items, you can expect that the store will be paying anywhere between 30% and 40% less than the retail prices. Sure, they only make a few percent on high-volume items such as milk, eggs, and bread. But they sell you milk, eggs,…

For example, suppose the Virginia Chicken Company can sell chicken parts such as feet, beaks and gizzards for five cents per pound at the split-off point. Since these parts ofthe chicken have relatively little value, they tend to fall into the category of by-products. Suppose the after split-off costs, such as collecting and packagingthe parts…

Here are a few scenarios where small-business owners should pay attention to basis. Basis can be generated by contributing cash to, or buying additional stock from, the S corporation. (Contributions to capital are typically used only where pro rata among all shareholders.) This strategy also works for partner contributions or purchases of additional units. Taxation…

That’s why many individual investors and even some professionals opt instead to invest in bond mutual funds. Choosing the right bond mutual fund begins with identifying your investment goals and making sure they align with the objectives of any fund you are considering. Bond valuation determines the fair value of a bond based on maturity…

A debt-to-equity-ratio that’s high compared to others in a company’s given industry may indicate that that company is overleveraged and in a precarious position. Other companies that might have higher ratios include those that face little competition and have strong market positions, and regulated companies, like utilities, that investors consider relatively low risk. A company’s…

Sales tax provides nearly one-third of state government revenue and is second only to the income tax in terms of importance as a source of revenue. Sales taxes are much more important in the south and west than they are in New England and the industrial Midwest. Florida, Washington, Tennessee, and Texas all generate more…

These discounts are often offered to encourage larger orders and are typically applied before or at the time of supply. However, it’s important to note that not all https://www.bookstime.com/articles/sage-50cloud purchases may be eligible for trade discounts. In some cases, trade discounts may be subject to various conditions to drive purchase decisions in support of the…

The number of days in the corresponding period is usually taken as 365 for a year and 90 for a quarter. The formula takes account of the average per day cost being borne by the company for manufacturing a salable product. The net factor gives the average number of days taken by the company to…

Billing is a critical part of the accounts receivable process, as it enables businesses to collect payment for the products or services they provide. Additionally, billing in accounting involves maintaining a systematic record of all invoices issued and monitoring the payment status of each invoice. This allows businesses to track outstanding payments, follow up with…