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The company omit to record this cash receipts on the company's record. 2. Outstanding checks $ 6,500 => It is a non-adjusted item. (The outstanding checks are also called the "Unpresented checks) The company had issued the checks to their creditors for settling the trade debts or for the payment of expenses and recorded them in the company's ...
I met the owner of a restaurant today who purchase it June 2014. The sales tax in not being recording properly. They have a point of sale system in which the items are marked with either to have the sales tax included or excluded from the amount. You can buy a beer for $3 and the tax in...
Next I calculated the gross profit: 420000 - 227400 = 192, 600 Then to calculate the gross profit percentage I calculated: 192600/420000=0.46. This answer is wrong, though.
Hello there! There is a label on Australian receipts from Woolworths,Coles, Australian Post office ( also receipts from New Zealand and UK) which says "Tax Invoice ABN/GST XXX XXX" so my question here is- is this a valid tax invoice or if it is a simple receipt do you have any idea why it is...
We booked a pledge receivable last year which was due in 2 installments over 2 years. Our auditors discounted to present value the pledge amount for year. I have recorded receipt of the first installment just as a debit to cash and credit to receivable. I know have a balance in my receivable...
Hello, I am in the process of buying a small accounting practice. The seller does not want to sell the business phone and fax. The seller keeps telling me about "missrepresenation". Am I asking too much? I am paying the full price based on gross receipts up front. I want to get business...
HELP! Schedule K-1 Line 20 Code Y Entry into TurboTax Here's my scenario. I only owned (traded) TNH (Terra Nitrogen Company, L.P. -- master limited partnership) from between 2/23/09 - 4/1/09. My total investment/sales were very small -- only about $11000. I did *not* receive a dividend...
On Question 12 in the Self Assessment (Tailor your return 12 - Was your income over £50,000?), how do we calculate the Adjustable Net Income using Salary from Full Time job and Rental Income? My friend receives a GROSS salary of £40K. From his Gross Pay-his Employer deducts around £5000/annum as Pension Contribution
Use accounting software or apps to digitize and organize your receipts for easy access. Record Depreciation and Amortization (if applicable): For assets like equipment or vehicles, record depreciation (for tangible assets) or amortization (for intangible assets) over time to reflect their decreasing value. Calculate Net Income: