Download Learn Small Business Accounting in 7 Days by Rod Caldwell PDF

By Rod Caldwell

Learn Small enterprise Accounting in 7 Days is your step by step advisor to dealing with the bills to your business.

This small company consultant strikes past this fundamentals coated in Learn Bookkeeping in 7 Days, exploring the trial stability level, end-of-period alterations, ultimate studies, payroll and all that's in among. In 7 quickly and straightforward steps this publication palms you with the data you want to effectively deal with the financials of your business.

Packed filled with guidance, tips and traps, this is often crucial interpreting for all small enterprise proprietors and somebody desirous to quick and simply study accounting.

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If plan liabilities exceed plan assets, the difference is reported as a liability. Equity The owners of a company own equity in the company. The most common form of ownership is common stock, but accountants accumulate this ownership in a number of accounts, including the par amount of common, the additional amount paid above the par value of the common, and retained earnings. Companies may have more than one class of common stock. Companies may have preferred stock, treasury stock, and other accounts.

5. On January 16, you lease office space for one year at a nearby office park for $4,000 per month beginning in February. On January 16, you make a security deposit of one month’s rent and pay the first month’s rent. Additional rent payments are due on the first day of each month beginning March 1. Show entries through March. 6. On January 19, you buy miscellaneous office equipment totaling $45,000. Your vendor expects payment in 45 days to avoid finance charges of 1¼ percent per month, so you pay on 2/27/X1.

Some of the investments are carried at cost. Other investments are revalued on the date the balance sheet is published. Short-term investments generally are not very sensitive to changes in interest rates. These investments may, however, contain some risk of default. Accounts Receivable This account includes a total of money due from customers. ACCOUNTS RECEIVABLE generally is created when a customer buys a good or service and doesn’t pay immediately. ACCOUNTS RECEIVABLE may earn interest, often after a grace period immediately following a sale.

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