How much does a BTU cost?
Fuel Cost Calculator FUEL ENERGY CONTENT COST PER MILLION BTU Propane 91600 $34.04 Natural Gas 100000 $14.71 Electricity – Resistance 3412 $32.24 Electric...
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How do the three methods of depreciation affect the income statement and the balance sheet?
Impact of Depreciation Methods The choice of the depreciation method can impact revenues on the income statement and assets on the balance sheet. The four...
Can I take a short term loan from my business?
No, compared to other business loan choices like long term loans, a short-term loan is not difficult to obtain. Lenders don’t require a stellar credit sco...
What causes an increase in shareholders equity?
A primary reason for an increase in stockholders’ equity is due to an increase in retained earnings. A company’s retained earnings is the difference betwe...
Are utilities an asset or liabilities?
Definition of Utility Bills In other words, the utilities provide the gas, electricity, etc. in advance of being paid. Therefore, the company is receiving...
How long should a company keep its accounting records?
6 years You must keep records for 6 years from the end of the last company financial year they relate to, or longer if: they show a transaction that cover...
How do you identify debit and credit in journal entries?
Debits are always on the left side of the entry, while credits are always on the right side, and your debits and credits should always equal each other in...
Where do I enter charitable donations on my tax return?
You can deduct donations you make to qualified charities. This can reduce your taxable income, but to claim the donations, you have to itemize your deduct...
What is Schedule 6 of Companies Act?
Schedule VI to the Companies Act, 1956 deals with the form of Balance Sheet and Profit and Loss Account and classified disclosure to be made therein and i...
What happens if your spouse does not file a tax return?
You also cannot sign your spouse’s name to the return without his consent. If your spouse chooses not to file jointly, you should file separately. When yo...
