While ASC 840 designated two types of leases, operating and capital, ASC 842 designates leases as operating and finance. One of the changes implemented with ASC 842 was the renaming of capital leases to finance leases. This is mostly a nomenclature change to provide more clarity to the different types of lease commitments, but key…
Read more
This shows the acquisition and financing costs in its financial statements. Download our capital lease calculator to easily manage and analyze your lease payments, balance sheet data, and tax impacts, all in one spreadsheet. Capital leases are considered the same as a purchase What is Legal E-Billing for tax and accounting purposes. Operating leases cover…
Read more
These funds are then invested in assets which helps the business in generating revenue. Finally, unless he improves his debt-to-equity ratio, Bill’s brother Garth is the only person who will ever invest in his business. The situation could be improved considerably if Bill reduced his $13,000 owner’s draw. Unfortunately, he’s addicted to collecting extremely rare…
Read more
In particular, the corporation must obtain a change in the par value (if any) and an increase in the number of authorized shares. Approval must be obtained not only from the state authority but also from the stockholders through a vote. A 3-for-1 stock split means that for every share an investor has, they will…
Read more
Content FreshBooks invoicing How many users can you have with a FreshBooks account? Mobile Device Computing Policy Accounts Payable Expenses Pricing and features The five most recently updated expenses appear at the top of the Expenses section. Individual expense records, which appear in a list below, contain fields for the vendor, category, date, source, client/project/description,…
Read more
Invoice numbering primarily helps you track payments, prevent duplicate payments, and simplify tax filing and auditing. With online invoicing software, your business can eliminate all such discrepancies and ensuing confusion with automation. It numbers invoices automatically, thus improving the accuracy and efficiency of your invoice tracking process. Purchase orders are legal documents that help businesses…
Read more
Content Do you care about Payment Reports? Want More Helpful Articles About Running a Business? Debit Memos as Internal Offsets Can you get rid of a tot odp swp cr memo charge? Cash Handling Guide Work, Master’s, Kids, Hobbies, & the CPA Exams: How Logan Did It All Internal offsets using debit memos Master Data…
Read more
Content Why do you need to zero opening balance equity? What is the need for Opening Balance Equity in QuickBooks? To Change the Opening Balance in QuickBooks Using a Credit or Bank Account, follow these steps: Click on the video below to watch: How to clean up Opening Balance Equity in QuickBooks Online How to…
Read more
Content Another example of retained earnings calculation Factors that can influence a company’s retained earnings Step 2: State the Balance From the Prior Year Can retained earnings be negative? What is the Statement of Retained Earnings? Example of Retained Earnings Calculation In this case, the company would need to take action to improve its financial…
Read more
We’ll use a company called MacroAuto that creates and installs specialized exhaust systems for race cars. Here are MacroAuto’s accounting records simplified, using positive numbers for increases and negative numbers for decreases instead of debits and credits in order to save room and to get a higher-level view. This is the adjusted trial balance that…
Read more
