I was fortunate that I had classes that taught me these lessons as early as middle school, but not everybody is so fortunate. Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter,…
Bookkeeping
Product descriptions should cover all the selling points and explain how the product is made, what it does, or how it works. Sharing reviews can influence potential customers through the voice of current customers. Pick a platform and launch your custom store through the vendor’s…
Learn how to apply for a business loan and explore business loans for women. If your small business has a team, managing payroll can become a real headache. The good news is there are tools that can make the process as quick and painless as…
An increase in a liability or an equity account is a credit. When a company earns money, it records revenue, which increases owners’ equity. Therefore, you must credit a revenue account to increase it, or it has a credit normal balance. Last, put the amounts…
Further, this increment in a capital asset account and the reduction in cash account are to be recorded in the capital asset account and cash account separately. This transaction will likewise be recorded in the ledger account. Here are some examples of common journal entries…
Managing and running a business requires bookkeeping work, including accounts payable and accounts receivable, and tracking losses and profits. When your business grows to the point where you need a bookkeeper to complete these duties, then an outsourced bookkeeper can work for you and give…
While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. FreshBooks is great for self-employed individuals, sole proprietors and independent contractors. It is incredibly user-friendly and easy to…
On the other hand, it could be indicative of a company that should consider paying more dividends to its shareholders. This, of course, depends on whether the company has been pursuing profitable growth opportunities. On the other hand, though stock dividends do not lead to…
Any probable and estimable contingencies must appear as liabilities or asset impairments rather than an appropriation of RE. This action merely results in disclosing that a portion of the stockholders’ claims will temporarily not be satisfied by a dividend. Retained earnings (RE) are created as…
The prior period balance can be found on the opening balance sheet, whereas the net income is linked to the current period income statement. From there, the company’s net income—the “bottom line” of the income statement—is added to the prior period balance. The “Retained Earnings”…
