door Cobie Rouwendal | okt 24, 2024 | Bookkeeping
Of course, sometime we may use the machine hours instead if the manufacturing company is heavily automated. In short, the predetermined manufacturing overhead rate can be a certain percentage of labor cost or a certain dollar per labor hour, etc. The basic concept is...
door Cobie Rouwendal | jul 25, 2024 | Bookkeeping
People can supply a business or an entity with a voided check to easily share their bank account details for an electronic payment or direct deposit. Thus, sending a voided check is a simple way to provide your banking details to someone else so they can set up...
door Cobie Rouwendal | feb 29, 2024 | Bookkeeping
Just as reporting standards vary regionally, they also vary by industry. When in doubt, don’t be afraid to talk to other business owners and find out how they hired a bookkeeper and what bookkeeping methods they prefer to use. When you account for deferred...
door Cobie Rouwendal | dec 28, 2023 | Bookkeeping
To illustrate an Accumulated Depreciation account, assume that a retailer purchased a delivery truck for $70,000 and it was recorded with a debit of $70,000 in the asset account Truck. Each year when the truck is depreciated by $10,000, the accounting entry will...
door Cobie Rouwendal | dec 19, 2023 | Bookkeeping
Current liabilities are usually considered short-term (expected to be concluded in 12 months or less) and non-current liabilities are long-term (12 months or greater). If you’re injured by an automobile, it’s likely that your auto policy will govern how your...
door Cobie Rouwendal | dec 19, 2023 | Bookkeeping
Cash outflows include any fees or charges that are subtracted from the balance. Depreciation is a non-cash expense and therefore has been ignored while calculating the payback period of the project. On the other hand, payback period calculations can be so quick and...
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