ACCT 2301 Chapter 1 SB Homework assignment ACCT 2301 Chapter 1 Introducing Financial Statements

ContentImportance of the Accounting EquationIncome statementEquity and the Owner’s Equity FormulaCompanyWhat are Specific Names for Equity on the Balance Sheet? Buying and selling of ng-term assets such as land and equipment would be included in the (operating/investing/financing)activities section of the Statement of Cash Flows. Johna's Plant Nursery pays the salaries...

Average Sales Commission Rates by Industry

Below are some additional insights to help you pay your salespeople every penny they’re worth. Knowing how to correctly categorize your expenses under these two costing umbrellas is vital if you want to better understand your cash flows. You'll need to present your plan in a way that's clear to...

Independent and Dependent Variable Examples

From the graph, it looks like studying up to six hours helped her raise her score, but as she studied more than that her score dropped slightly. You could also choose to look at the effect of exercise levels as well as diet, or even the additional effect of the...

RENT PAID IN ADVANCE: JOURNAL ENTRIES WITH EXAMPLES

While it is highly probable performance or usage will occur, neither of these things are unavoidable by the lessee until after they have been completed. It is shown on the credit side of an income statement (profit and loss account). Thus, the advance rent GL will be on the debit...

Is outsourcing your billing and collections more efficient?

Remember that if you want to get paid on time, you have to include accurate information on your invoices. You can essentially outsource any accounts payable jobs and other financial functions that your current business structure is having trouble following through with. While outsourcing has become a common term in...

Bookkeeping & Accounting Services for Law Firms and Legal Offices

ContentWhat Is a Legal Assistant? Explaining Their Role in a Law FirmThinking you can do everything without professional helpTrust Accounting 101 for Law FirmsAccounts PayableSelf-employment tax While you could hire permanent accounting help as your firm grows, most firms find working with an independent contractor who provides these services is...

What is Financial Forecasting? Definition and Related FAQs

ContentCompanyJointly Determine Milestones and Ask for a Project PlanGreater company appeal to attract investorsWhat is the difference between financial forecasting and budgeting?Financial Plans vs. Financial Forecasts: An Overview Each method is suitable for different uses and has its strengths and shortcomings. However, qualitative forecasting is more suitable for startups without...

How to Calculate Cash Flow Formulas Included

ContentFixed AssetsWhat is Return on Equity (ROE)? How is ROE calculated?Profit and Loss Statement (Income Statement)Calculating Equity in ForexDebt-to-Equity ratio The accounting equation will always balance because the dual aspect of accounting for income and expenses will result in equal increases or decreases to assets or liabilities. Current liabilities are...

Enrolled Agent EA Salary

ContentTop Average Accounting Salaries By Job TitleHow much do Enrolled Agents make compared to non-certified tax preparers?What is the salary for Enrolled Agent at H&R Block?Gain relevant experienceEnrolled Agent Salary vs. CPA Salary What’s more, enrolled agents often fill the role of both tax accountant and tax attorney. In many...