As used in accounting, inventory describes assets that a company intends to liquidate through sales operations. It includes assets being held for sale, those in the process of being made, and the materials used to make them. In corporate accounting, dividends represent portions of the company’s profits voluntarily paid out Ler mais…
On March 9, Fillmore gave Millard a 60-day, 12% promissory note in settlement of the account. Record the sale and the acceptance of the promissory note on the books of Millard Company. 25 Made sales of $800 on Visa credit cards. The credit card service charge is 2%. There will Ler mais…
Accountants can help their organization limit gift card fraud by reviewing their company’s internal controls over the gift card process. During the accounting cycle, many transactions occur and are recorded. At the end of the fiscal year, financial statements are prepared (and are often required by government regulation). Various journal Ler mais…