Figure 10.18 shows the gross margin resulting from the LIFOperpetual cost allocations of $7,380. Figure 10.16 shows the gross margin, resulting from the FIFOperpetual cost allocations of $7,200. Figure 10.14 shows the gross margin, resulting from thespecific identification perpetual cost allocations of $7,260. Let’s return to The Spy Who Loves You Corporation data todemonstrate the...Read More
With bi-monthly pay, you’ll pay your employees twice a month on set days. While bi-monthly payments often come out to twice a week, there are actually slightly more than two weeks between payments semi monthly vs bi weekly on average. This then causes paydays to fall slightly over two weeks apart at times. You need...Read More
QuickBooks and other bookkeeping software give you a tool to do your own bookkeeping. You can add any amount of Catch Up bookkeeping to a standard Bench plan. No matter how far behind you are (yes, even years behind), we can get you caught up quickly. SLC Bookkeeping provides accurate, timely accounting for restaurants, bars and...Read More
These practices contribute to reliable financial reporting, which is integral to almost every aspect of operating and growing a business. The primary objective of reconciliation is to secured and unsecured debt identify and resolve any discrepancies between the two sets of records. This helps preserve the integrity of financial statements and identifies errors or fraudulent...Read More
Activity-based costing or ABC costing can provide a unique picture when utilized to reveal products that generate profits vis a vis those that don’t. The business can then identify activities or production strategies that might require a revamp to ensure the profit margins are extended. While more specific and accurate, activity-based costing might cause businesses...Read More
A high DOL can be good if a company is expecting an increase in sales, as it will lead to a corresponding operating income increase. However, a high DOL can be bad if a company is expecting a decrease in sales, as it will lead to a corresponding decrease in operating income. DCL is a...Read More
There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Banking services provided by our partner, Green Dot Bank, Member FDIC. One advantage of Shopify is the abandoned cart recovery which is the process of following up with someone who has added an...Read More
For $15 a month, it lets you send invoices, scan receipts, and separate business expenses from personal ones. Meanwhile, QuickBooks Online’s cheapest small-business accounting plan starts at $30 a month. The Plus plan costs $85 a month, while the Advanced plan starts at $200 and maxes out at 25 users. You’ll get plenty of accounting...Read More
You need enough money to cover your expensesuntil you get your next paycheck. Once you receive that paycheck,you can repay the lender the amount you borrowed, plus a littleextra for the lender’s assistance. In Notes Receivable, we were the ones providing funds that we would receive at maturity. Written by True Tamplin, BSc, CEPF® By...Read More
Additionally, you should recalculate your predetermined overhead rate any time there is a significant change in your business, such as the addition of new equipment or a change in your product line. Here’s how a service-based business, namely a marketing agency, might go about calculating its predetermined overhead rate. Again, that means this business will...Read More
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