How To Note Withdrawing Retained Earnings

For example, if a company made a profit of $587,100 and its prior period retained earnings balance was $1,456,789, its new retained earnings balance is $2,043,889. If the company paid dividends of $145,679, the retained earnings account would show a balance of...

Cash Or Accrual Accounting

At the time of a transaction, revenues are earned by the company will credit a revenue account and will debit the asset account of Accounts Receivable. The company will debit Cash and credit Accounts Receivable when the customer pays 30 days after the revenues were...

Social Security Definition

Social Security Tax For The Self-employed Nearly all other federal, state and local retirement systems work in a similar fashion with different benefit retirement Definition of Social Security Tax ratios. Some plans are now combined with Social Security and are...

Balance Sheet Equation – Is it a Scam?

Balance Sheet Equation – Is it a Scam? Just know about the standard balance portion and you will be okay. You might also want to cover the balance sheet by means of your accountant after any key adjustments to your company. Their balances have to be closed at...

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