Categoría: Bookkeeping

IRS Form 4797, Sales of Business Property, is used to report the section 1231 gains on a sold property. The IRS defines section 1250 property as all real property, such as land and buildings, that are subject to the allowance for depreciation, as well as a leasehold of land or section 1250 property. If you and…

Similarly, for the remaining 9 years, the depreciation is accounted in contra account and in the 10th year, the net value of machinery will be ‘0’ since it is completely written off. The following will be the journal entry to be recorded in the books of accounts to write-off the asset. Allowance for uncollectible accounts,…

Dividend-yielding stocks are a component of most portfolios recommended by professional financial advisers. Other times companies will have negative retained earnings if they are a growth stock being fueled by debt and share issuances. Corporations reinvest their profits because they expect to earn a significant return on their investments and grow as a result. If…

The actual inflows received and the outflows paid for, and not accrued, are added and subtracted from the cash flow statement using the direct method. The accrued transactions are recorded in future cash flows when the incomes are actually received, and the payments are actually made. When it comes to cash flow forecasting, the two…

This calculation tells you how much money you need to make from the sale of a certain product to break even. In general, the break-even price for an options contract will be the strike price plus the cost of the premium. For a 20-strike call option that cost $2, the break-even price would be $22.…

Support and use of Wave Accounting in South Africa has been discontinued. Wave Accounting requires no downloads and is accessible from web-connected devices. Data can be imported from other apps, such as Quickbooks. From an online interface, users can access visual dashboards, reporting, invoicing tools, and more. 1 Payouts are processed in 1-2 business days…