Are you over 18 and want to see adult content?
More Annotations
A complete backup of workforce-resource.com
Are you over 18 and want to see adult content?
A complete backup of hydrocarbonprocessing.com
Are you over 18 and want to see adult content?
A complete backup of theparliamentaryreview.co.uk
Are you over 18 and want to see adult content?
A complete backup of christoph-dornier-klinik.de
Are you over 18 and want to see adult content?
Favourite Annotations
A complete backup of https://afca.org.au
Are you over 18 and want to see adult content?
A complete backup of https://smartparaphrasingtool.com
Are you over 18 and want to see adult content?
A complete backup of https://prohost.pl
Are you over 18 and want to see adult content?
A complete backup of https://marmurmedical.com
Are you over 18 and want to see adult content?
A complete backup of https://corpangelnetwork.org
Are you over 18 and want to see adult content?
A complete backup of https://energyefficiencyforall.org
Are you over 18 and want to see adult content?
A complete backup of https://420magazine.com
Are you over 18 and want to see adult content?
A complete backup of https://randycharlesepping.com
Are you over 18 and want to see adult content?
A complete backup of https://angliacarauctions.co.uk
Are you over 18 and want to see adult content?
A complete backup of https://emergobyul.com
Are you over 18 and want to see adult content?
A complete backup of https://armenianweekly.com
Are you over 18 and want to see adult content?
Text
here to learn more.
YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author. All Topics Bookkeeping Financial Managerial Suggested Alphabetical. How to Begin(Video)
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
BOOKKEEPING QUIZ AND TEST If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation). 1. The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the. method. 2. -entry bookkeeping means ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this ADJUSTING ENTRIES EXPLANATION Adjusting Entries - Asset Accounts. Adjusting entries assure that both the balance sheet and the income statement are up-to-date on the accrual basis of accounting.A reasonable way to begin the process is by reviewing the amount or balance shown in each of the balance sheetaccounts.
HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Here is one approach: Assign or allocate $44,000 to the account Land. This is 20% of the $220,000 cost. Assign or allocate $176,000 to the account Buildings. This is 80% of the $220,000 cost. A second approach is to compare the real estate's total cost of $220,000 to the total appraisal amount of $250,000. This shows that the total cost is 88% IS THERE A RELATIONSHIP BETWEEN DIRECT MATERIALS VARIANCES There can be a connection between the direct materials variances and the direct labor variances. In fact, there can be a relationship between many of the variances. Let's assume that a lower costing material is purchased in order to achieve a favorable materials price variance. If the materials h IS A SECURITY DEPOSIT A CURRENT ASSET? A security deposit is often an amount paid by a tenant to a landlord to hold until the tenant moves. The amount of the security deposit is refundable to the tenant, if the rental unit remains in its present condition. Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid LEARN ACCOUNTING ONLINE FOR FREE We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. Clickhere to learn more.
YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author. All Topics Bookkeeping Financial Managerial Suggested Alphabetical. How to Begin(Video)
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
BOOKKEEPING QUIZ AND TEST If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation). 1. The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the. method. 2. -entry bookkeeping means ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this ADJUSTING ENTRIES EXPLANATION Adjusting Entries - Asset Accounts. Adjusting entries assure that both the balance sheet and the income statement are up-to-date on the accrual basis of accounting.A reasonable way to begin the process is by reviewing the amount or balance shown in each of the balance sheetaccounts.
HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Here is one approach: Assign or allocate $44,000 to the account Land. This is 20% of the $220,000 cost. Assign or allocate $176,000 to the account Buildings. This is 80% of the $220,000 cost. A second approach is to compare the real estate's total cost of $220,000 to the total appraisal amount of $250,000. This shows that the total cost is 88% IS THERE A RELATIONSHIP BETWEEN DIRECT MATERIALS VARIANCES There can be a connection between the direct materials variances and the direct labor variances. In fact, there can be a relationship between many of the variances. Let's assume that a lower costing material is purchased in order to achieve a favorable materials price variance. If the materials h IS A SECURITY DEPOSIT A CURRENT ASSET? A security deposit is often an amount paid by a tenant to a landlord to hold until the tenant moves. The amount of the security deposit is refundable to the tenant, if the rental unit remains in its present condition. Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING Q&A ARCHIVE All 1,113 questions have been answered personally by Harold Averkamp, CPA, MBA. Harold is the sole-author of all the instructional content found on AccountingCoach.com.WHAT ARE ACCRUALS?
What are accruals? Definition of Accruals. The accounting and bookkeeping term accruals refers to adjustments that must be made before a company's financial statements are issued. Accruals involve the following types of business transactions: expenses, losses, and liabilities that have been incurred but are not yet recorded in the accounts, and; revenues and assets that have been earned but WHY USE NORMAL COSTING INSTEAD OF ACTUAL COSTING Why use normal costing instead of actual costing? Normal costing uses a predetermined annual overhead rate to assign manufacturing overhead to products. In other words, the overhead rate under normal costing is based on the expected overhead costs for the entire accounting year and the expected production volume for the entire year. ADJUSTING ENTRIES FOR LIABILITY ACCOUNTS The adjusting entry for Accounts Payable in general journal format is: The balance in the liability account Accounts Payable at the end of the year will carry forward to the next accounting year. The balance in Repairs & Maintenance Expense at the end of the accounting year will be closed and the next accounting year will begin with $0. WHAT IS A FLEXIBLE BUDGET VARIANCE? What is a flexible budget variance? Definition of Flexible Budget and Flexible Budget Variance. First, a flexible budget is a budget in which some amounts will increase or decrease when the level of activity changes. A flexible budget variance is the difference between 1) an actual amount, and 2) the amount allowed by the flexible budget.. Static Budget vs. Flexible Budget IS STANDARD COSTING GAAP? Is standard costing GAAP? Standard costing was developed to assist a manufacturer plan and control its operations. Generally accepted accounting principles or GAAP require that a manufacturer's financial statements comply with the cost principle.This means that the inventories, the cost of goods sold, and the resulting net income must reflect the manufacturer's actual costs. CALCULATING THE NUMBER OF TIME PERIODS (N) In this case, there is a factor of exactly 1.270, and it is located in the row where n = 24. Since n = 24 monthly time periods, we need to divide the 24 months by 12 months in a year in order to get the answer in years. It will take approximately 2 years for your $787 investment to reach a future value of $1,000. WHAT ENTRY IS MADE WHEN SELLING A FIXED ASSET The fixed asset's cost and the updated accumulated depreciation must be removed. The cash received must be recorded. The difference between the amounts removed in 2. and the cash received in 3. is recorded as a gain or loss on the sale of the fixed assets. Example of Entries When Selling a Plant Asset. Assume that on January 31, a company sells HOW DO YOU RECORD AN OWNER'S MONEY THAT IS USED TO START A How do you record an owner's money that is used to start a company? Recording Money to Start a Sole Proprietorship. If Amy Ott begins a sole proprietorship by putting money into her business, the sole proprietorship will debit Cash and will credit the Amy Ott, Capital. If Amy Ott also lends some money to the business, the entry will be to debit Cash and credit a liability account such as Notes LEARN ACCOUNTING ONLINE FOR FREE We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. Clickhere to learn more.
YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author. All Topics Bookkeeping Financial Managerial Suggested Alphabetical. How to Begin(Video)
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
BOOKKEEPING QUIZ AND TEST If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation). 1. The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the. method. 2. -entry bookkeeping means ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this ADJUSTING ENTRIES EXPLANATION Adjusting Entries - Asset Accounts. Adjusting entries assure that both the balance sheet and the income statement are up-to-date on the accrual basis of accounting.A reasonable way to begin the process is by reviewing the amount or balance shown in each of the balance sheetaccounts.
HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Here is one approach: Assign or allocate $44,000 to the account Land. This is 20% of the $220,000 cost. Assign or allocate $176,000 to the account Buildings. This is 80% of the $220,000 cost. A second approach is to compare the real estate's total cost of $220,000 to the total appraisal amount of $250,000. This shows that the total cost is 88% IS THERE A RELATIONSHIP BETWEEN DIRECT MATERIALS VARIANCES There can be a connection between the direct materials variances and the direct labor variances. In fact, there can be a relationship between many of the variances. Let's assume that a lower costing material is purchased in order to achieve a favorable materials price variance. If the materials h IS A SECURITY DEPOSIT A CURRENT ASSET? A security deposit is often an amount paid by a tenant to a landlord to hold until the tenant moves. The amount of the security deposit is refundable to the tenant, if the rental unit remains in its present condition. Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid LEARN ACCOUNTING ONLINE FOR FREE We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. Clickhere to learn more.
YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author. All Topics Bookkeeping Financial Managerial Suggested Alphabetical. How to Begin(Video)
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
BOOKKEEPING QUIZ AND TEST If you have difficulty answering the following questions, learn more about this topic by reading our Bookkeeping (Explanation). 1. The two main methods of bookkeeping and accounting are 1) the cash method, and 2) the. method. 2. -entry bookkeeping means ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions press or click on the blank space provided. If you have difficulty answering the following questions, learn more about this ADJUSTING ENTRIES EXPLANATION Adjusting Entries - Asset Accounts. Adjusting entries assure that both the balance sheet and the income statement are up-to-date on the accrual basis of accounting.A reasonable way to begin the process is by reviewing the amount or balance shown in each of the balance sheetaccounts.
HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Here is one approach: Assign or allocate $44,000 to the account Land. This is 20% of the $220,000 cost. Assign or allocate $176,000 to the account Buildings. This is 80% of the $220,000 cost. A second approach is to compare the real estate's total cost of $220,000 to the total appraisal amount of $250,000. This shows that the total cost is 88% IS THERE A RELATIONSHIP BETWEEN DIRECT MATERIALS VARIANCES There can be a connection between the direct materials variances and the direct labor variances. In fact, there can be a relationship between many of the variances. Let's assume that a lower costing material is purchased in order to achieve a favorable materials price variance. If the materials h IS A SECURITY DEPOSIT A CURRENT ASSET? A security deposit is often an amount paid by a tenant to a landlord to hold until the tenant moves. The amount of the security deposit is refundable to the tenant, if the rental unit remains in its present condition. Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING Q&A ARCHIVE All 1,113 questions have been answered personally by Harold Averkamp, CPA, MBA. Harold is the sole-author of all the instructional content found on AccountingCoach.com.WHAT ARE ACCRUALS?
What are accruals? Definition of Accruals. The accounting and bookkeeping term accruals refers to adjustments that must be made before a company's financial statements are issued. Accruals involve the following types of business transactions: expenses, losses, and liabilities that have been incurred but are not yet recorded in the accounts, and; revenues and assets that have been earned but WHY USE NORMAL COSTING INSTEAD OF ACTUAL COSTING Why use normal costing instead of actual costing? Normal costing uses a predetermined annual overhead rate to assign manufacturing overhead to products. In other words, the overhead rate under normal costing is based on the expected overhead costs for the entire accounting year and the expected production volume for the entire year. ADJUSTING ENTRIES FOR LIABILITY ACCOUNTS The adjusting entry for Accounts Payable in general journal format is: The balance in the liability account Accounts Payable at the end of the year will carry forward to the next accounting year. The balance in Repairs & Maintenance Expense at the end of the accounting year will be closed and the next accounting year will begin with $0. WHAT IS A FLEXIBLE BUDGET VARIANCE? What is a flexible budget variance? Definition of Flexible Budget and Flexible Budget Variance. First, a flexible budget is a budget in which some amounts will increase or decrease when the level of activity changes. A flexible budget variance is the difference between 1) an actual amount, and 2) the amount allowed by the flexible budget.. Static Budget vs. Flexible Budget IS STANDARD COSTING GAAP? Is standard costing GAAP? Standard costing was developed to assist a manufacturer plan and control its operations. Generally accepted accounting principles or GAAP require that a manufacturer's financial statements comply with the cost principle.This means that the inventories, the cost of goods sold, and the resulting net income must reflect the manufacturer's actual costs. CALCULATING THE NUMBER OF TIME PERIODS (N) In this case, there is a factor of exactly 1.270, and it is located in the row where n = 24. Since n = 24 monthly time periods, we need to divide the 24 months by 12 months in a year in order to get the answer in years. It will take approximately 2 years for your $787 investment to reach a future value of $1,000. WHAT ENTRY IS MADE WHEN SELLING A FIXED ASSET The fixed asset's cost and the updated accumulated depreciation must be removed. The cash received must be recorded. The difference between the amounts removed in 2. and the cash received in 3. is recorded as a gain or loss on the sale of the fixed assets. Example of Entries When Selling a Plant Asset. Assume that on January 31, a company sells HOW DO YOU RECORD AN OWNER'S MONEY THAT IS USED TO START A How do you record an owner's money that is used to start a company? Recording Money to Start a Sole Proprietorship. If Amy Ott begins a sole proprietorship by putting money into her business, the sole proprietorship will debit Cash and will credit the Amy Ott, Capital. If Amy Ott also lends some money to the business, the entry will be to debit Cash and credit a liability account such as Notes LEARN ACCOUNTING ONLINE FOR FREE Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting.YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable Practice Quiz Questions with Test. Test your knowledge with AccountingCoach, providing free quizzes and lectures on accounting and finances.BOOKKEEPING
Accrual Method. There are two main methods of accounting (or bookkeeping): Accrual method; Cash method; The accrual method of accounting is the preferred method because it provides:. a more complete reporting of the company's assets, liabilities, and stockholders' equity at the end of an accounting period, and a more realistic reporting of a company's revenues, expenses, and net income WHAT IS STANDARD COSTING? Definition of Standard Costing Standard costing is an accounting system used by some manufacturers to identify the differences or variances between: The actual costs of the goods that were produced, and The costs that should have occurred for the actual goods produced The costs that should have o HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Dividing the Cost of Real Estate into Land and Building In accounting, the cost of real estate must be divided into: The cost of land (because land is not depreciated) The cost of the structures (because these require depreciation) Example of Dividing the Cost of Real Estate Assume that a company HOW DO YOU RECORD A DEPOSIT ON UTILITIES? A deposit on utilities is recorded with a debit to the asset account Utilities Deposit and a credit to the asset account Cash. The account Utilities Deposit will be reported as a current asset if the company expects the amount to be returned by the utilities within one year ofthe balance sheet d
WHY WOULD SOMEONE BUY A BOND AT A PREMIUM? A person would buy a bond at a premium (pay more than its maturity value) because the bond's stated interest rate (and therefore its interest payments) are greater than those expected by the current bond market. It is also possible that a bond investor will have no choice. For example, if you wis LEARN ACCOUNTING ONLINE FOR FREE Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting.YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable Practice Quiz Questions with Test. Test your knowledge with AccountingCoach, providing free quizzes and lectures on accounting and finances.BOOKKEEPING
Accrual Method. There are two main methods of accounting (or bookkeeping): Accrual method; Cash method; The accrual method of accounting is the preferred method because it provides:. a more complete reporting of the company's assets, liabilities, and stockholders' equity at the end of an accounting period, and a more realistic reporting of a company's revenues, expenses, and net income WHAT IS STANDARD COSTING? Definition of Standard Costing Standard costing is an accounting system used by some manufacturers to identify the differences or variances between: The actual costs of the goods that were produced, and The costs that should have occurred for the actual goods produced The costs that should have o HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Dividing the Cost of Real Estate into Land and Building In accounting, the cost of real estate must be divided into: The cost of land (because land is not depreciated) The cost of the structures (because these require depreciation) Example of Dividing the Cost of Real Estate Assume that a company HOW DO YOU RECORD A DEPOSIT ON UTILITIES? A deposit on utilities is recorded with a debit to the asset account Utilities Deposit and a credit to the asset account Cash. The account Utilities Deposit will be reported as a current asset if the company expects the amount to be returned by the utilities within one year ofthe balance sheet d
WHY WOULD SOMEONE BUY A BOND AT A PREMIUM? A person would buy a bond at a premium (pay more than its maturity value) because the bond's stated interest rate (and therefore its interest payments) are greater than those expected by the current bond market. It is also possible that a bond investor will have no choice. For example, if you wisSTANDARD COSTING
Direct Materials Purchased: Standard Cost and Price Variance. Direct materials are the raw materials that are directly traceable to a product. In your apron business the main direct material is the denim. (In a food manufacturer's business the direct materials are the ingredients such as flour and sugar; in an automobile assembly plant, the direct materials are the cars' component parts). WHAT IS A SPECIAL JOURNAL? What is a special journal? Definition of a Special Journal. A special journal (also known as a specialized journal) is useful in a manual accounting or bookkeeping system to reduce the tedious task of recording both the debit and credit general ledger account names WHAT ENTRY IS MADE WHEN SELLING A FIXED ASSET What entry is made when selling a fixed asset? Defining the Entries When Selling a Fixed Asset. When a fixed asset or plant asset is sold, there are several things that must take place:. The fixed asset's depreciation expense must be recorded up to the date of the sale; The fixed asset's cost and the updated accumulated depreciation must be removed; The cash received must be recordedWHAT ARE SALES?
What are sales? In accounting, sales refers to the revenues earned when a company sells its goods, products, merchandise, etc.(If a company sells one of its noncurrent assets that was used in its business, the amount received is not recorded in its Sales account.). The amounts recorded at the time of the sales transaction is also known as gross sales since there may be subsequent subtractions ADJUSTING ENTRIES FOR LIABILITY ACCOUNTS Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. WHY USE NORMAL COSTING INSTEAD OF ACTUAL COSTING Why use normal costing instead of actual costing? Normal costing uses a predetermined annual overhead rate to assign manufacturing overhead to products. In other words, the overhead rate under normal costing is based on the expected overhead costs for the entire accounting year and the expected production volume for the entire year. HOW DO DRAWINGS AFFECT THE FINANCIAL STATEMENTS How do drawings affect the financial statements? Definition of Drawings. Drawings are the withdrawals of a sole proprietorship's business assets by the owner for the owner's personal use.. The drawings or draws by the owner (L. Webb) are recorded in an owner's equity account such as L. Webb, Drawings; L. Webb, Draws; or L. Webb,Withdrawals.
WHAT IS ABSORPTION COSTING? What is absorption costing? Definition of Absorption Costing. Absorption costing (also known as full absorption costing) indicates that all of the manufacturing costs have been assigned to (absorbed by) the units of goods produced. In other words, the cost of a finished product includes the following costs: WHERE SHOULD I ENTER UNPAID WAGES? Definition of Unpaid Wages Unpaid wages are usually the amounts that hourly-paid employees have earned, but have not yet been paid to the employees. Entering Unpaid Wages Under the accrual basis of accounting, unpaid wages that have been earned by employees but have not yet been recorded in the a HOW DO YOU ACCOUNT FOR PAYROLL WITHHOLDINGS FOR HEALTH Let's assume that the cost of an employee's health insurance is $300 per pay period and that the employee is responsible for paying 25% of that cost through payroll withholding. One way to handle the withholding is to credit Health Insurance Expense for the $75 (25% of $300) withheld from the emp LEARN ACCOUNTING ONLINE FOR FREE Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting.YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable Practice Quiz Questions with Test. Test your knowledge with AccountingCoach, providing free quizzes and lectures on accounting and finances.BOOKKEEPING
Accrual Method. There are two main methods of accounting (or bookkeeping): Accrual method; Cash method; The accrual method of accounting is the preferred method because it provides:. a more complete reporting of the company's assets, liabilities, and stockholders' equity at the end of an accounting period, and a more realistic reporting of a company's revenues, expenses, and net income WHAT IS STANDARD COSTING? Definition of Standard Costing Standard costing is an accounting system used by some manufacturers to identify the differences or variances between: The actual costs of the goods that were produced, and The costs that should have occurred for the actual goods produced The costs that should have o HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Dividing the Cost of Real Estate into Land and Building In accounting, the cost of real estate must be divided into: The cost of land (because land is not depreciated) The cost of the structures (because these require depreciation) Example of Dividing the Cost of Real Estate Assume that a company HOW DO YOU RECORD A DEPOSIT ON UTILITIES? A deposit on utilities is recorded with a debit to the asset account Utilities Deposit and a credit to the asset account Cash. The account Utilities Deposit will be reported as a current asset if the company expects the amount to be returned by the utilities within one year ofthe balance sheet d
WHY WOULD SOMEONE BUY A BOND AT A PREMIUM? A person would buy a bond at a premium (pay more than its maturity value) because the bond's stated interest rate (and therefore its interest payments) are greater than those expected by the current bond market. It is also possible that a bond investor will have no choice. For example, if you wis LEARN ACCOUNTING ONLINE FOR FREE Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting.YOUR ACCOUNT
About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
WELCOME | ACCOUNTINGCOACH About the Author. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for morethan 25 years.
ACCOUNTING QUIZZES AND PRACTICE TESTS Test your accounting skills with our quizzes. AccountingCoach helps you evaluate your knowledge and provides free online courses for yourimprovement.
ACCOUNTS PAYABLE QUIZ AND TEST Accounts Payable Practice Quiz Questions with Test. Test your knowledge with AccountingCoach, providing free quizzes and lectures on accounting and finances.BOOKKEEPING
Accrual Method. There are two main methods of accounting (or bookkeeping): Accrual method; Cash method; The accrual method of accounting is the preferred method because it provides:. a more complete reporting of the company's assets, liabilities, and stockholders' equity at the end of an accounting period, and a more realistic reporting of a company's revenues, expenses, and net income WHAT IS STANDARD COSTING? Definition of Standard Costing Standard costing is an accounting system used by some manufacturers to identify the differences or variances between: The actual costs of the goods that were produced, and The costs that should have occurred for the actual goods produced The costs that should have o HOW DO YOU DIVIDE THE COST OF REAL ESTATE INTO LAND AND Dividing the Cost of Real Estate into Land and Building In accounting, the cost of real estate must be divided into: The cost of land (because land is not depreciated) The cost of the structures (because these require depreciation) Example of Dividing the Cost of Real Estate Assume that a company HOW DO YOU RECORD A DEPOSIT ON UTILITIES? A deposit on utilities is recorded with a debit to the asset account Utilities Deposit and a credit to the asset account Cash. The account Utilities Deposit will be reported as a current asset if the company expects the amount to be returned by the utilities within one year ofthe balance sheet d
WHY WOULD SOMEONE BUY A BOND AT A PREMIUM? A person would buy a bond at a premium (pay more than its maturity value) because the bond's stated interest rate (and therefore its interest payments) are greater than those expected by the current bond market. It is also possible that a bond investor will have no choice. For example, if you wisSTANDARD COSTING
Direct Materials Purchased: Standard Cost and Price Variance. Direct materials are the raw materials that are directly traceable to a product. In your apron business the main direct material is the denim. (In a food manufacturer's business the direct materials are the ingredients such as flour and sugar; in an automobile assembly plant, the direct materials are the cars' component parts). WHAT IS A SPECIAL JOURNAL? What is a special journal? Definition of a Special Journal. A special journal (also known as a specialized journal) is useful in a manual accounting or bookkeeping system to reduce the tedious task of recording both the debit and credit general ledger account names WHAT ENTRY IS MADE WHEN SELLING A FIXED ASSET What entry is made when selling a fixed asset? Defining the Entries When Selling a Fixed Asset. When a fixed asset or plant asset is sold, there are several things that must take place:. The fixed asset's depreciation expense must be recorded up to the date of the sale; The fixed asset's cost and the updated accumulated depreciation must be removed; The cash received must be recordedWHAT ARE SALES?
What are sales? In accounting, sales refers to the revenues earned when a company sells its goods, products, merchandise, etc.(If a company sells one of its noncurrent assets that was used in its business, the amount received is not recorded in its Sales account.). The amounts recorded at the time of the sales transaction is also known as gross sales since there may be subsequent subtractions ADJUSTING ENTRIES FOR LIABILITY ACCOUNTS Certificates of Achievement . We now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, Financial Ratios, Bank Reconciliation, and Payroll Accounting. WHY USE NORMAL COSTING INSTEAD OF ACTUAL COSTING Why use normal costing instead of actual costing? Normal costing uses a predetermined annual overhead rate to assign manufacturing overhead to products. In other words, the overhead rate under normal costing is based on the expected overhead costs for the entire accounting year and the expected production volume for the entire year. HOW DO DRAWINGS AFFECT THE FINANCIAL STATEMENTS How do drawings affect the financial statements? Definition of Drawings. Drawings are the withdrawals of a sole proprietorship's business assets by the owner for the owner's personal use.. The drawings or draws by the owner (L. Webb) are recorded in an owner's equity account such as L. Webb, Drawings; L. Webb, Draws; or L. Webb,Withdrawals.
WHAT IS ABSORPTION COSTING? What is absorption costing? Definition of Absorption Costing. Absorption costing (also known as full absorption costing) indicates that all of the manufacturing costs have been assigned to (absorbed by) the units of goods produced. In other words, the cost of a finished product includes the following costs: WHERE SHOULD I ENTER UNPAID WAGES? Definition of Unpaid Wages Unpaid wages are usually the amounts that hourly-paid employees have earned, but have not yet been paid to the employees. Entering Unpaid Wages Under the accrual basis of accounting, unpaid wages that have been earned by employees but have not yet been recorded in the a HOW DO YOU ACCOUNT FOR PAYROLL WITHHOLDINGS FOR HEALTH Let's assume that the cost of an employee's health insurance is $300 per pay period and that the employee is responsible for paying 25% of that cost through payroll withholding. One way to handle the withholding is to credit Health Insurance Expense for the $75 (25% of $300) withheld from the empCourse Outline
Menu
PRO Features Log InCourse Outline
Take the Tour
PRO Features Log In LEARN ACCOUNTING FOR FREE FOR STUDENTS, SMALL BUSINESSES, AND BOOKKEEPERS* All
* Bookkeeping
* Financial
* Managerial
All Topics
Suggested Alphabetical*
*
01. ACCOUNTING BASICS*
*
02. DEBITS AND CREDITS*
*
03. CHART OF ACCOUNTS*
*
04. BOOKKEEPING
*
*
05. ACCOUNTING EQUATION*
*
06. ACCOUNTING PRINCIPLES*
*
07. FINANCIAL ACCOUNTING*
*
08. ADJUSTING ENTRIES*
*
09. FINANCIAL STATEMENTS*
*
10. BALANCE SHEET
*
*
11. WORKING CAPITAL AND LIQUIDITY*
*
12. INCOME STATEMENT*
*
13. CASH FLOW STATEMENT*
*
14. FINANCIAL RATIOS*
*
15. BANK RECONCILIATION*
*
16. ACCOUNTS RECEIVABLE AND BAD DEBTS EXPENSE*
*
17. ACCOUNTS PAYABLE*
*
18. INVENTORY AND COST OF GOODS SOLD*
*
19. DEPRECIATION
*
*
20. PAYROLL ACCOUNTING*
*
21. BONDS PAYABLE
*
*
22. STOCKHOLDERS' EQUITY*
*
23. PRESENT VALUE OF A SINGLE AMOUNT*
*
24. PRESENT VALUE OF AN ORDINARY ANNUITY*
*
25. FUTURE VALUE OF A SINGLE AMOUNT*
*
26. NONPROFIT ACCOUNTING*
*
27. BREAK-EVEN POINT*
*
28. IMPROVING PROFITS*
*
29. EVALUATING BUSINESS INVESTMENTS*
*
30. MANUFACTURING OVERHEAD*
*
31. NONMANUFACTURING OVERHEAD*
*
32. ACTIVITY BASED COSTING*
*
33. STANDARD COSTING*
*
ACCOUNTING CAREERS
*
*
CERTIFICATES OF ACHIEVEMENT CERTIFICATES OF ACHIEVEMENT __ We now offer eight Certificates of Achievement for Introductory Accounting and Bookkeeping. The certificates include Debits and Credits, Adjusting Entries, Financial Statements, Balance Sheet, Income Statement, Cash Flow Statement, Working Capital and Liquidity, and Payroll Accounting. CLICK HERE TO LEARN MORE.PRO Testimonial
"AccountingCoach PRO is an exceptional service. It not only provides all the essential material to succeed in learning accounting and finance, but also explains all the relevant details that make the difference when you need to understand the complexity of accounting systems. As a communication trainer and business coach, I had to pick up the language of accounting in no time in order to communicate more effectively with my clients. This website's benefits have exceeded my expectations. Many thanks for your great support." - Theirry F. View PRO Features → JOIN PRO OR PRO PLUS AND GET LIFETIME ACCESS TO OUR PREMIUM MATERIALS Read all 2,112 TestimonialsPRO
Lifetime Access
PRO PLUS
Lifetime Access
Seminar Videos
Flashcards
Visual Tutorials
Quick Tests
Quick Tests with CoachingCheat Sheets
Business Forms
All PDF files
Progress Tracking
Certificate - Debits and Credits Certificate - Adjusting Entries Certificate - Financial Statements Certificate - Balance Sheet Certificate - Income Statement Certificate - Cash Flow Statement Certificate - Working Capital Certificate - Payroll AccountingLearn More
Learn More
ABOUT THE AUTHOR
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.comABOUT US
* About
* Quick Tour
* Testimonials
* Contact
* Sitemap
MATERIALS
* Bookkeeping
* Practice Quizzes
* Quick Tests
* Flashcards
* Crossword Puzzles
* Word Scrambles
* Q&A
* Dictionary
* Visual Tutorials
* Cheat Sheets
* Seminar Videos
* Business Forms
* Certificates
LEGAL
* Disclaimer
* Copyright / Trademark* Privacy Policy
* Terms
About Us About Quick Tour Testimonials Contact Sitemap Materials Bookkeeping Quizzes Quick Tests Flashcards Crossword Puzzles Word Scrambles Q&A Dictionary Visual Tutorials Cheat Sheets Seminar Videos Business Forms Certificates Legal Disclaimer Copyright / Trademark Privacy Policy TermsCopyright © 2020
AccountingCoach, LLC. All rights reserved. AccountingCoach® is a registered trademark. All Topics Bookkeeping Financial Managerial* All Topics
* All Topics
* Bookkeeping
* Financial
* Managerial
Suggested Alphabetical* Suggested
* Suggested
* Alphabetical
How to Begin (Video) * 01. Accounting Basics __ * 02. Debits and Credits __ * 03. Chart of Accounts __ * 04. Bookkeeping __ * 05. Accounting Equation __ * 06. Accounting Principles __ * 07. Financial Accounting __ * 08. Adjusting Entries __ * 09. Financial Statements __ * 10. Balance Sheet __ * 11. Working Capital and Liquidity __ * 12. Income Statement __ * 13. Cash Flow Statement __ * 14. Financial Ratios __ * 15. Bank Reconciliation __ * 16. Accounts Receivable and BadDebts Expense __
* 17. Accounts Payable __ * 18. Inventory and Cost of Goods Sold __ * 19. Depreciation __ * 20. Payroll Accounting __ * 21. Bonds Payable __ * 22. Stockholders' Equity __ * 23. Present Value of a Single Amount __ * 24. Present Value of an Ordinary Annuity __ * 25. Future Value of a Single Amount __ * 26. Nonprofit Accounting __ * 27. Break-even Point __ * 28. Improving Profits __ * 29. Evaluating Business Investments __ * 30. Manufacturing Overhead __ * 31. Nonmanufacturing Overhead __ * 32. Activity Based Costing __ * 33. Standard Costing __Accounting Careers
Certificates of Achievement Take the TourDetails
Copyright © 2024 ArchiveBay.com. All rights reserved. Terms of Use | Privacy Policy | DMCA | 2021 | Feedback | Advertising | RSS 2.0