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To properly record investments in accounting, you should classify them as either short-term or long-term investments based on how long you plan to hold them. Short-term investments are recorded at their current market value on the balance sheet, while long-term investments are recorded at their historical cost. Any changes in the value of investments should be reflected in the financial statements.
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How to properly record a tax refund in accounting?
To properly record a tax refund in accounting, you would debit the cash account to increase it and credit the income tax expense account to reduce it. This reflects the refund as income received and reduces the expense previously recorded for taxes paid.
A record in the accounting equation?
Transaction
How can I properly record a journal entry for credit card rewards in my accounting records?
To properly record a journal entry for credit card rewards in your accounting records, you should debit the rewards earned to an account called "Credit Card Rewards Earned" and credit the same amount to a liability account called "Credit Card Rewards Payable." This way, you can track the rewards earned and the amount owed to you by the credit card company.
What is the difference between long-term and short-term investments?
From an accounting perspective, short-term investments have a life cycle of less than 12 months; long term investments have a life cycle of 12 months or longer.
How do you record transactions using the accounting equation?
Assets= Liabilities + Equity
The accounting rate of return on stockholders investments is measured by?
The accounting rate of return stockholders investments is measured by?
How to properly record a tax refund in accounting?
To properly record a tax refund in accounting, you would debit the cash account to increase it and credit the income tax expense account to reduce it. This reflects the refund as income received and reduces the expense previously recorded for taxes paid.
Is it true that stock investments account is debited at acquisition under both the equity method and cost method of accounting for investments in common stock?
the stock investments account is debited at acquisition under both the equity method and cost method of accounting for investments in common stock
What has the author Dennis M Doyle written?
Dennis M. Doyle has written: 'Efficient accounting and record-keeping' -- subject(s): Accounting, Bookkeeping 'The complete series 6 study book' -- subject(s): Brokers, Examinations, questions, Investments, Securities
What transaction is found first on accounting record?
The "journal" is the first transaction found on the accounting record.
How is the accounting rate of return on stockholders investments measured?
return on equity
A record in the accounting equation?
Transaction
Who are the users of accounting record?
accountants
What is the abbreviation for the word Debit in accounting?
Debit is seen as Dr in accounting. Credit is Cr. They stand for Debit Record and Credit Record.
What is individual accounting?
Individual accounting is related to record of any sole trader .
How can I properly record a journal entry for credit card rewards in my accounting records?
To properly record a journal entry for credit card rewards in your accounting records, you should debit the rewards earned to an account called "Credit Card Rewards Earned" and credit the same amount to a liability account called "Credit Card Rewards Payable." This way, you can track the rewards earned and the amount owed to you by the credit card company.
What definition of accounting?
A narrative or record of events.
