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Does an S corporation have retained earnings?
Just like regular corporations, S corps can distribute profits to their shareholders, keep them as retained earnings or do a little of both. An S corp doe...
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What is depreciation in bookkeeping?
Depreciation is an accounting method of allocating the cost of a tangible or physical asset over its useful life or life expectancy. Depreciation represen...
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What does the term structure of interest rates indicate?
The term structure of interest rates reflects the expectations of market participants about future changes in interest rates and their assessment of monet...
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Is depreciation an expense on income statement?
Depreciation expense is reported on the income statement as any other normal business expense. If the asset is used for production, the expense is listed ...
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What is the accounting entry for TDS deducted?
Accounting entries when TDS is deducted Particulars Accounting Entry – At the end of month the provision- Salary A/c Dr. 3,10,000 To Salary Payable A/c 2,...
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Why the users are interested in accounting information?
Customers – Customers have interest in the accounting information for assessing the financial position of a business, especially, when they have a long te...
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What are direct expenses in accounting?
Direct expense is an expense incurred that varies directly with changes in the volume of a cost object. A cost object is any item for which you are measur...
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What are the advantages of creating user?
Create Separate Accounts on PC The advantages of setting up separate user accounts are: You can set up accounts with different privileges for each user, a...
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What is the stable monetary unit assumption?
The monetary unit assumption as it applies to a U.S. corporation is that the U.S.dollar (USD) is stable in the long run. That is, the USD does not lose it...
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Is an informal report that lists accounts and their balances?
Accounting Terms (Unit 1) A B trial balance An informal listing of the ledger accounts and their balances in the ledger to aid in proving the equality of ...
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