• admin
• May 31, 2021
• Bookkeeping
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In accordance with accounting rules, companies must depreciate these assets over their useful lives. As a result, companies must recognize accumulated depreciation, the sum of depreciation expense recognized over the life of an asset. Accumulated depreciation is reported on the balance sheet as a contra asset that reduces the net book value of the capital asset section. When depreciation expenses …

• admin
• May 27, 2021
• Bookkeeping
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Stakeholders are the people or groups who have an interest, claim, or stake in the organization. Hence, stakeholders usually focus on the performance of the organization and ensure that it remains at an acceptable level. Stakeholders do not have any role in the management of the organization, but they do influence the organizational management. Stakeholders come in many different forms, …

• admin
• May 17, 2021
• Bookkeeping
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For instance, let’s say you have a life insurance payment that you make quarterly. What per diem pay covers and how it’s paid varies from company to company. Per diem payments usually include lodging rates and meals and incidental expenses (M&IE) such as newspaper delivery or laundry services. Both fixed costs and variable costs help provide a clear picture of …

• admin
• May 10, 2021
• Bookkeeping
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Because postage was purchased for $12.70, cash, an asset account, will be credited, which will decrease the cash balance by $12.70. Contrarily, purchasing postage is an expense, and therefore will be debited, which will increase the expense balance by $12.70. When the account balances are summed, the debits equal the credits, ensuring that the Academic Support RC has accounted for …