Bookkeeping 101

Just fill in the data in the relevant fields and apply the appropriate features and it’s done. Includes use of Instant Deposit without the additional cost. Instant Deposit is an additional service offered by QuickBooks Payments subject to eligibility…

Unearned revenue should be entered into your journal as a credit to the unearned revenue account, and a debit to the cash account….

Because it is money you possess but have not yet earned, it’s considered a liability and is included in the current liability section of the balance sheet. In February, after you complete the second month’s worth of work, you can then take $1,000 of …

However, it is almost always seen as a worthy investment in your business in the short term while helping to grow your business over the long term. Investing activities refer to any transactions that directly affect long-term assets. This can include…

Essentially, the cash flow statement is concerned with the flow of cash in and out of the business. The statement captures both the current operating results and the accompanying changes in the balance sheet and income statement. As an analytical too…

Long-term liabilities are obligations that are due for repayment in periods beyond one year, including bonds payable, leases, and pension obligations. Treasury stock is previously outstanding stock bought back from stockholders by the issuing company…

Locate the company’s total assets on the balance sheet for the period. Total all liabilities, which should be a separate listing on the balance sheet. Locate total shareholder’s equity and add the number to total liabilities. Total assets will equal …

The table below illustrates the units-of-production depreciation schedule of the asset. Depletion and amortization are similar concepts for natural resources and intangible assets, respectively. As you can see, this formula is fairly simple to perfor…

Today, forensic accounting is a fully formed profession that has evolved as the business world has changed and progressed, both domestically and internationally. Accordingly, most fraud examinations are forensic accounting but not all forensic accoun…

The changing law of marginal cost is similar to the changing law of average cost. They are both decrease at first with the increase of output, then start to increase after reaching a certain scale. While the output when marginal cost reaches its mini…