Gioffre & Company, LLP Westchester NY CPA
FreshBooks is the most popular choice among the best accounting software for photographers when it comes to managing finances. It offers an intuitive and clean interface, time-tracking features, expense management, the creation of insightful financial reports, secure online payments, and invoicing capabilities. Photographers can easily manage their projects
Accounts Payable Journal Entry: Types and Examples
When an asset other than the fixed equipment is purchased, the journal entries are a bit different. In the account payable in the liabilities section, the entry is made of the purchase asset’s value. Still, the company also has gained an asset whose value is equal to the value of the account payable. Streamlining Accounts […]
The 5 Best Bookkeeping Services for Small Business
If basic bookkeeping is all that your company needs at this stage, you’ll need to decide whether to do the bookkeeping in-house or if you should outsource. If you decide to hire and manage a bookkeeper you’ll also have to decide whether the position is part-time or requires full time. If you decide to outsource, […]
Expanded Accounting Equation Formula, Analysis, and Examples
Content Answer and Explanation: Breaking Down the Expanded Accounting Equation Basic Accounting Equation Purpose of the expanded accounting equation Introduction to Business Example 2 – expanded accounting equation for a corporation The equation signifies that all http://podstavkirf.ru/1.html are financed either by borrowing funds or with shareholders inve
Consumption Definition, Economics, Examples, Types, & Facts
The higher the real rate of interest, the fewer investment opportunities will be profitable. When the real rate of interest is at 8%, only those investments that have an expected rate of return higher than 8% will be undertaken. If the interest rate is 4%, all investments with an expected rate of return higher than […]
Income Consumption Curve and Engel Curve Indifference Curve
With the further increase in income by the same amount of Rs. 100 to Rs. 500, the quantity purchased increases by Q2Q3 which is larger than Q1Q2. Now when his income per week further increases by Rs. 100 to Rs. 500 per week, the quantity consumed increases to OQ3, that is, Q2Q3 which is less […]
Accelerated Depreciation Quick Glance on Accelerated Depreciation
At a federal tax rate of 20 percent, the income tax liability of Firoz’s salary is $10,000. Accelerated depreciation is the preferred choice for assets whose productivity reduces over time. An example of such a situation is discussed in the previous section on Banana Inc. The first method, where we calculate the reduction in the […]
What is Accelerated Depreciation and Why do Businesses Prefer it?
If the short tax year includes part of a month, you generally include the full month in the number of months in the tax year. You determine the midpoint of the tax year by dividing the number of months in the tax year by 2. For the half-year convention, you treat property as placed in […]
BYPRODUCT English meaning
Any revenue resulting from the sale of the by-product is credited either to income or to the cost of the main product. When there are multiple products created from a production process, the byproducts can be discerned by seeing which ones have a minor resale value in comparison to the value of the other products. […]
What is a Byproduct? Definition Meaning Example
Certain firms carry an account called the by-product account, to which all additional expenses are debited and all income statements are credited. As a result, total sales revenue would be $21,500 and gross profit and operating income would increase accordingly. A byproduct may be an unintended, but not necessarily unwelcome, result of an initial process. [&