Is direct Labour a relevant cost?
When existing labor is already being fully utilized, any additional labor requirement may be met either by offering overtime to current staff or by hiring...
Category: Updates
What is the normal balance of drawing account?
An account’s assigned normal balance is on the side where increases go because the increases in any account are usually greater than the decreases. Theref...
How do you record bad debt expense and allowance for doubtful accounts?
Bad Debt Allowance Method Estimate uncollectible receivables. Record the journal entry by debiting bad debt expense and crediting allowance for doubtful a...
Is discount an operating expense?
Definition of Sales Discounts Sales discounts (along with sales returns and allowances) are deducted from gross sales to arrive at the company’s net sales...
How do you see your career in the future?
Tips to use your current job to build your future career: Be open about your career goals. Talk to your supervisor about your career goals. Be proactive. ...
Is it true that the liability of corporate stockholders is limited to the amount of their investment?
The liability of stockholders is limited to the amount each has invested in the corporation. Personal assets of stockholders are not available to creditor...
Can a partnership own another LLC?
Can an LLC Own Another LLC? Yes. An LLC may own multiple, single-member LLCs—this is called a holding company structure; or. An LLC may serve as the maste...
How much does a CA fresher earn?
The starting average salary of CA fresher is around 7 Lakh per annum but with experience of more years, it keeps on increasing. How much does a ca get pai...
How do you record a promissory note in a journal entry?
The borrower records the note by debiting the cash account and crediting the notes payable account. The rest of the notes payable formula includes that in...
Why is religion so important in the South?
Religion comforts and sustains suffering people, and a South of slavery, Civil War, poverty, racial discrimination, economic exploitation, ill health, and...
