Danh mục: Bookkeeping

Some companies may attempt to complete all work in process items for simpler, cleaner financial statements. Though not required, the goal is to eliminate any pending products to only report completed goods. When these goods are completed, they are often transferred to inventory to later to be treated as a cost of good sold when… Đọc thêm Work-in-Progress WIP Definition With Examples

When you file your Delaware franchise tax, an annual report must also be filed. To file as a foreign corporation, mail in the necessary documents. The Delaware franchise tax for foreign corporations is due by June 30 every year. Along with your business’s annual Delaware franchise tax, your business is required to submit a Delaware… Đọc thêm Delaware Franchise Tax: Everything You Need to Know

Usually, this occurs for retail companies that sell to individual customers. Examples of assets include cash, accounts receivable, inventory, prepaid insurance, investments, land, buildings, equipment and goodwill. Allowance for Doubtful Accounts decreases (debit) and Accounts Receivable for the specific customer also decreases (credit). Allowance https://www.bookstime.com/ for doubtful accounts decreases because the bad debt amount is… Đọc thêm Accounts Receivable: Definitions & Examples