Category: Bookkeeping
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6 2 Compare and Contrast Perpetual versus Periodic Inventory Systems Principles of Accounting, Volume 1: Financial Accounting
He managed a box plant, and the massive rolls of paper that would later become boxes needed to be counted for that period’s inventory accounting. Under the perpetual system, managers are able to make the appropriate timing of purchases with a clear knowledge of the number of goods on hand at various locations. Having more accurate tracking of…
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Interest Receivable Journal Entry Example
The amount of accrued interest is posted as adjusting entries by both borrowers and lenders at the end of each month. The entry consists of interest income or interest expense on the income statement, and a receivable or payable account on the balance sheet. Since the payment of accrued interest is generally made within one…
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12 Best Columbus Bookkeeping Services
Preparing your payroll can be tedious and take time away from your business. Let Taylor Bookkeeping & Tax Service handle that burden. We’ll prepare your payroll checks or direct deposit is available. We’ll also prepare all the necessary payroll tax filings including W-2’s and workers compensation. Every plan comes with a dedicated bookkeeping team to handle your monthly books, and intuitive…