Purchases Journal Purchase Day Book

CompartilharCompartilhar My example is for a loan of $3,000 which was originally allocated to the Loan liability account. Click above button to get our most popular Excel Template for easy bookkeeping! Operating Income is generated from your core business operations and helps you to know your capacity to generate profits from primary business activities. What’s […]

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Accounting and disclosure implications of natural disasters

CompartilharCompartilhar The Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) use the NRV method in inventory accounting. In the Balance Sheet of the company, the accounts that will have the highest possibility of overstating the assets is the Inventory and the Accounts Receivable. Offering credit sales to customers is a common practice […]

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Medical Marijuana Accounting

CompartilharCompartilhar Utilize the point-of-sale system for your sales, cost of sales and inventory sub-ledgers. At the end of each month, add the grand totals of sales, cost of sales and change in inventory in the point-of-sale system to the respective QuickBooks general ledger accounts. There are various ways to accomplish this within QuickBooks, and your […]

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