Category: Bookkeeping

Which two reasons could be causing this balance? Common bookkeeping errors that can impact your taxes include incorrect expense categorization, unrecorded transactions, unreconciled accounts, and inaccurate revenue recognition. You are reviewing the Client Overview tab for a new client to determine the scope of a bookkeeping clean-up engagement. The client has added transactions in the […]

The common stock dividend distributable is $50,000 (500,000 x 10% x $1) since the common stock has a par value of $1 per share. A stock dividend is a payment to shareholders that consists of additional shares rather than cash. That figure helps to establish what the change in retained earnings would have been if […]

Best all-in-one software for smaller property management companies. Properbooks’ affordable $25 monthly subscription cost allows five users to access the system, allowing your team to do their work without having full access to your accounting information. https://intuit-payroll.org/oregon-tax-rates-rankings-oregon-taxes/ This is also a desktop solution, but it’s subscription-based and includes additional features like unlimited support and automatic […]

Here’s what you need to know about calculating the present value (PV) or future value (FV) of an annuity. Given this information, the annuity is worth $10,832 less on a time-adjusted basis, so the person would come out ahead by choosing the lump-sum payment over the annuity. The FV of money is also calculated using a […]

Customers who have a dispute regarding their bill and are unable to resolve it by speaking with the Utility Billing staff may petition the Utility Billing Review Committee (UBRC). More information and the application can be found on the Utility Billing Review Committee webpage. You can email the site owner to let them know you […]

However, the utility company does not bill the electric customers until the following month when the meters have been read. To have the proper revenue figure for the year on the utility’s financial statements, the company needs to complete an adjusting journal entry to report the revenue that was earned in December. Accounts payable, on […]