Included among India’s current eight NDCs is a pledge to have 50% of «cumulative electric power installed capacity» to come from non-fossil fuels by 2030. India’s NDCs also call for better mobilization of funding from «developed countries» to implement mitigation and adaptation plans according to «resource gaps.» «Equal sharing of the mitigation burden between developed […]
When there is a shortage of cash, we record the shortage as a “debit” and this has the same effect as an expense. If we have an overage of cash, we record the overage as a credit, and this has the same impact as if we are recording revenue. If there were cash overage, the […]
Inventory Write Down
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Surprisingly, negative inventory is a very common occurrence and may even be a «normal» part of some processes. Though negative inventory balances certainly reflect some type of problem, it should not be assumed that you must manually adjust inventory up to «fix it.» In many cases, negative inventory is simply a timing issue. For example, […]
Its bookkeeping service comes with its Enterprise plan, which costs $399 per month when billed annually. You’ll get a dedicated accountant, year-round tax advice, tax prep, bookkeeping and financial reports. We reviewed multiple accounting software options using a detailed methodology to help you find the 9 best online bookkeeping services for small businesses. Our ratings […]
Accounting 101: Debits and Credits
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On the other hand, debiting your inventory can provide a more accurate picture of COGS by reducing its overall value as sales occur. In this way, debits essentially act like expenses against revenue and give a more realistic view of profitability over time. However, one potential downside of using credits is that they can make […]
If asset disposal proceeds are less than its carrying amount, the loss on disposal is realized, which will then be recorded in the general journal. When the cash receipt from the disposal of assets is greater than the net book value, the difference is the gain on the how to record disposal of asset disposal. […]
This gives you the opportunity to engage with new clients, grow your client list, and win their confidence. You’ll need to use the same password if you’ve previously used your email account for any Intuit product, such as QuickBooks or TurboTax. You’ll be prompted to establish a new password if you’ve never used an Intuit […]
In such a scenario it implies that the adjusting entry has already been posted. In this case, it is only shown in the balance sheet as a “current liability” and no adjustment is required in the income statement. In this case, in the December 31 adjusting entry, the company ABC needs to make journal entry […]
