A. accounts payable B. unearned revenue C. accumulated depreciation D. long-term debt Accounts: There are many accounts in an accounting system, and these are displayed through the chart of accounts. Each account can be classified as ...
Local living wage: Wages should equate to a fair amount for the region for no more than a 48-hour working week. This wage should also provide a decent standard of living including food, water, accommodations, and other living expenses. ...
How to organize payroll for PPP loan forgiveness May 26, 2020 Important pricing details and product information Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For more information about Intuit Payme...
Describe the interrelationship between the matching principle and accrual accounting, then describe the impact of a $5,500 accrued wage expense on the financial statements of a business. How does an expense affect the balance sheet? What are the different wa...
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Federal law does not require you to offer mileage reimbursement to employees. And, the IRS does not have any specific federal mileage reimbursement rules. However, you still need to followminimum wagerequirements if you don’t offer mileage reimbursement. Make sure you pay employees at least the...
Wages payable (or the employee’s net pay) Step 2: Transitions The first entry records your payroll expenses before you actually cut employees’ checks. On payday, you’ll enter a separate transaction into the general ledger that accounts for your actual payment of those wage expenses. This ...
Accrued Interestrefers to the amount ofinterest expensethat has been added to a loan, bond, or other financial obligation that hasn’t been paid yet. Accrued Payrollis the compensation owed to an employee. This can be in the form of a wage, salary, or bonus. ...
Fees paid for margin trading vary according to the outstanding margin balance, with a lower fee rate levied on higher balances. An investor looking to put some money into mutual funds may be faced with costs like themanagement expense ratio (MER)and fees associated with load funds. A La Cart...
Transfer price is the price at which related parties transact with each other, such as during the trade of supplies or labor between departments.