Pro forma statements of cash flow estimate how much cash inflow and outflow is expected in one or more future periods. Often requested by banks, they may also be prepared as a part of the annual budgeting or forecast and estimate where cash shortages may occur in order to obtain additional funding. In the case […]
Category Archives: Bookkeeping
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Remember that your speech is supposed to be shorter than your typical speech. Once you’ve determined a few people you’d like to thank, maybe a story you’d like to tell, and determined the overall goal or vibe of your talk, you should start structuring your speech. While these are some fundamental tips on how to compose a […]
Stipends and skill badges were authorized by the Marine Corps to further incentivize marksmanship skill improvement. The Marine Corps’ initial marksmanship performance in the first decades of competition was far from legendary, largely due to the lack of sufficient training areas. In 1899, following the Spanish-American War, Marine Corps Commandant Maj. Gen. Charles Heywood was […]
You’ve just learned how to record credit card sales in QuickBooks Online. Our series of free QuickBooks courses will now focus on preparing financial reports, beginning with how to prepare a profit and loss (P&L) statement. When the goods are sold on credit to the buyer of the goods, the sales account will be credited […]
However, if you are a Quebec employer and employees contribute to the Quebec Parental Insurance Plan, you will deduct EI premiums at a lower rate. While there are two methods for calculating withholding, most businesses use the Wage Bracket Method. Be aware that withholding rates change according to current tax legislation. Jean Murray is employers […]
A factory invests $50,000 in machinery with an expected useful life of 10 years. This pattern continues until the book value approaches the salvage value, ensuring depreciation never exceeds the asset’s worth. They have estimated the machine’s useful life to be eight years, with a salvage value of $ 11,000. Comparison with Other Depreciation Methods […]
We will also discuss how to use the contribution margin ratio for decision making and compare it with other related ratios. Contribution margin income statement, the output of the variable costing is useful in making cost-volume-profit decisions. It is an important input in calculation of breakeven point, i.e. the sales level (in units and/or dollars) […]
If your monthly average is $50,001 or more, the monthly price for QuickBooks Live is $400. QuickBooks automatically retrieves the latest program updates as long as QuickBooks is running. Intuit, the developer of QuickBooks, issues these updates to fix bugs or provide performance improvements. These older versions of the software will be out of compliance […]