The average collection period amount of time that passes before a company collects its accounts receivable (AR). In other words, it refers to the time it takes, on average, for the company to receive payments…
Though allocation bases can vary, the most commonly used are direct machine hours and direct labor hours. The calculation result means that 7.25% of sales revenue will need to go toward overhead manufacturing costs. The…
For information on residential rental property, see Pub. This publication discusses the rules for deducting home mortgage interest. No matter when the indebtedness was incurred, you can no longer deduct the interest from a loan…
Online accounting platform Xero suffers global outage as users lament end-of-month chaos, an AWS issue the likely culprit. View and upvote the most commonly reported issues to help us better indicate the service status. “This…
If you have accounting software, it will manage your ledger for you. QuickBooks Online users have year-round access to Live Bookkeepers who can set up the software, then help manage finances. The core function of a bookkeeper is…
All you have to do is multiply both the selling price per unit and the variable costs per unit by the number of units you sell, and then subtract the total variable costs from the…
In this question, the Bright Company has experienced a favorable labor rate variance of $45 because it has paid a lower hourly rate ($5.40) than the standard hourly rate ($5.50). Generally, the wage rate is…
In this question, the Bright Company has experienced a favorable labor rate variance of $45 because it has paid a lower hourly rate ($5.40) than the standard hourly rate ($5.50). Generally, the wage rate is…
Remember that adding debits and credits is like addingpositive and negative numbers. This means the $600 debit issubtracted from the $4,000 credit to get a credit balance of $3,400that is translated to the adjusted trial…
Then, the consignee will provide a certificate to consignors detailing the agreement. “Consignment only” refers to a unique selling arrangement, where you retain ownership of your item until it sells. You entrust your goods to…