education
How do you record the sale of equipment?
Entries To Record a Sale of Equipment Credit the account Equipment (to remove the equipment’s cost) Debit Accumulated Depreciation (to remove the equipmen...
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Education
education
Is a rent deposit a financial asset?
A refundable security deposit given by an entity represents its contractual right to receive cash from the holder of the deposit, and hence it falls under...
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education
What is extrapolation in sales forecasting?
Extrapolation. Extrapolative Forecasting – a method of prediction which assumes that the patterns that existed in the past will continue on into the futur...
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education
What is a collection of spreadsheets called?
Each page is called a worksheet, and a collection of one or more worksheets is called a workbook (which is also sometimes called a spreadsheet file). … Wh...
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education
What is the review of financial records and statements to make sure the information is accurate as reported?
What is an independent audit? Auditors review and evaluate the standards used to prepare a company’s financial statements. An independent audit is conduct...
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education
Is cash flow the same as expenses?
The main difference between the two methods is the time period in which the income and expenses are recognized and recorded. The statement of cash flows c...
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education
What are the disadvantages of a skills audit?
One disadvantage of a skills audit is that they mean that one would have to look at their own skills, which either makes them feel really self conscious o...
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education
What does it mean to sponsor a football team?
What are sponsorships in sports? Put very simply, a sponsorship in football, and sport in general, is a business providing funds to a team to help them bu...
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education
How do you respond to a complaint letter?
To do this: Acknowledge the specific problem highlighted in the complaint. If they make several points, respond to each one in turn. Apologize sincerely f...
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education
Do you pay tax if your business makes loss?
Yes, you may deduct any loss your business incurs from your other income for the year if you’re a sole proprietor. If your losses exceed your income from ...
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