Category: Bookkeeping

Once you printed “void” on the check, it can no longer be used for payments. If you are the payor, you should write a new one and file the accidentally voided check for record-keeping. If you are the payee, you should get the owner to write you a new one. Can I Cash My Check…

Assume Snowtown T-Shirt Company generated $300,000 in sales in 2023. In this same period, the company spent $50,000 in raw materials and manufacturing labor, $30,000 in office rent, and $50,000 in administrative employee wages. Additionally, the company had to pay $5,000 in interest on its outstanding loan and $10,000 in taxes. The income statement and…

The annual interest paid divided by bond par value equals the coupon rate. As an example, let’s say the XYZ corporation issues a 20-year bond with a par value of $1,000 and a 3% coupon rate. Bondholders will receive $30 in interest payments each year, generally paid on a semiannual basis. The coupon rate of…

Take, for example, two similarly risky funds available for you to invest in. One has the potential to return 8 percent and the other 10 percent. The opportunity cost of the 10 percent return is forgoing the 8 percent return. Inversely, the opportunity cost of the 8 percent return is the 10 percent return. Even…

If you want both services, it may be worth outsourcing them separately to get the best service from each area and be more cost-effective. However, outsourcing bookkeeping alone can still provide significant benefits if your small business does not require complex accounting services. Sensitive financial information needs to be kept secure, which can challenge small…

If there are 98 students at the school, write the ratio of the number of students who study German to the students who study French in lowest terms. To simplify the ratio, you divide both sides by 4. For more complex ratios involving larger numbers or decimals, the ratio calculator is much more convenient to…

The fixed component of s includes expenses that do not change with the production level, such as rent, insurance, and management fees. The variable component contains expenses that change with the production level, such as materials, labor, and energy (Bragg, 2019). Variable costs are those that fluctuate with production or activity levels. Total mixed costs…

The movie industry uses job order costing, and studios need to allocate overhead to each movie. Their amount of allocated overhead is not publicly known because while publications share how much money a movie has produced in ticket similarities and differences between accounting and bookkeeping sales, it is rare that the actual expenses are released…

Unlike some other funding sources, such as small business loans, understand that the grant application process can take a while. Before jumping into how to write a grant letter, you need to consider some key factors. Addressing these ahead of time, even before you begin your search, will help make the grant writing process much…

Merritt is one of the lowest-priced bookkeeping options on our list. The team at Merritt works in QuickBooks, which is helpful for easy handoff to your accountant and in case you decide down the line to bring your bookkeeping in-house. If you already use or are planning to use QuickBooks Online for your business accounting,…