0
What else can I help you with?
What are deductions allowed when calculating federal income taxes?
The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.
Does the receipt of cash indicate that revenue has been earned?
The receipt of cash does not necessarily indicate that revenue has been earned; it simply reflects a cash inflow. Revenue is recognized when it is earned, typically when goods or services have been delivered to the customer, regardless of when cash is received. This principle is part of the accrual accounting method, which distinguishes between cash transactions and revenue recognition. Therefore, cash receipts can precede or follow revenue recognition depending on the terms of the sale.
Are contractual expenses fixed expenses?
A fixed cost is one that does not change irrespective of the volume of business that is experienced by the business. Contractual expenses may, at first thought, seem fixed but there is insufficient information in the question to be sure. The contract may involved a sliding scale of expense or may involve increased or decreased expense according to a variety of conditions within the contract. Therefore it does not necessarily follow that a contractual expense is also a fixed expense.
Is expense account a debit or credit account?
Expense account is a debit account. So for example the expense is rent paid, so every year the rent expense increases and we record it in the debit side of the rent payable account and to complete the double entry, credit the same amount to the profit and loss account. Follow this basic rule to know which side your looking for: DAXP (debit side items), LICS (credit side items) D: drawings A:assets X:expenses P:purchases, L:liabilities I:income C:capital S:sales. So DAXP items increase in the debit side while LICS items increase in the credit side.
Prudence Concept in accounting?
preparation of account involve estimations, measurements and and valuations according to the conservatism or prudence concept it is a good practice to follow a procedure that tends to understate things.
What is a delay of recognition of an expense already paid or of a revenue already received is?
Delay of recognition is an accounting term that refers to the practice of delaying the reporting of an expense or revenue until a later reporting period. The accounting industry has developed certain standard and acceptable accounting practices that businesses should follow. Under an audit, the accountant can determine whether the company is following the standards, or is using misleading accounting practices, in violation of the standards. According to an alert issued by the AICPA, (American Institute of Certified Public Accountants) "A substantial portion of litigation against accounting firms and a number of SEC Accounting and Auditing Enforcement Releases involve revenue recognition issues. Many of these issues result from alleged improper accounting treatment of sales recorded in the ordinary course of a client's business. Such improper accounting treatment ranges from allegedly stretching the accounting rules to falsifying sales in an effort to manage earnings." While there can be an accepted use of this practice, the manager has to be very careful to follow the proper standards when he decides when to use the delay method.
How do you support others to understand and follow safe working practice is?
how to support others to understand and follow safe working practice
How can we practice forgiveness towards one another, following the example of how I have forgiven you?
To practice forgiveness towards one another, we can follow the example of forgiving others as we have been forgiven. This involves letting go of resentment and choosing to show compassion and understanding towards those who have wronged us. By extending grace and empathy, we can foster healing and reconciliation in our relationships.
Name the religion that is practice by most afghans?
They follow Islam.
What are deductions allowed when calculating federal income taxes?
The deductions allowed whe calculating federal income taxes are as follow: Mortgage interest, charitable contributions, job expense, miscellanoous expense, medical expense in excess of 7.5 of income, and payment of state and local property taxes.
How do Hindus practice their beliefs about the afterlife?
Hindus follow and practice certain religious rituals for their departed parents. There are certain rituals they follow for thirteen days soon after the death. Every year on the day of the death they again practice a ritual called "Shaarddha"
Can a Revenue Canada in Canada garnish wages in Los Angeles?
Is Los Angeles in Canada? Does it follow the laws of Canada? ;)
How do you make you legs go higher in your Grand Jetes in ballet if you can do a split but you legs won't get all the way up there in the air?
There are several options: * strengthen your leg muscles * practice, practice, practice * improve your technique * practice, practice, practice * follow your teacher's advice * practice, practice, practice
Do married Indonesian males practice monogamy?
It depends what religion they follow.
What is electrical best practice?
Follow national and international standards and codes.
What is the difference between policy and practice in human resource?
Yes, there is difference between policy and practice. A policy is rules, regulations and procedures that you should follow within a practice.
How do you write neat?
If you would like to write neat just follow the old saying and "Practice! Practice! Practice!" because practice makes perfect and if you keep trying then you will finally achieve your task of writing neatly.
