Variable-declining balance uses the double-declining factor but also initiates the automatic switch to straight-line depreciation once that is greater than double-declining. With your second year of depreciation totaling $6,720, that leaves a book value of $10,080, which will be used when calculating your third year of depreciation. The following table illustrates double declining depreciation totals...Read More

Content Posting Adjusting Entries Overview: What are adjusting entries? Financial statements will not be accurate Stay up to date on the latest accounting tips and training What is an Adjusting Journal Entry? Non-Cash Expenses The first is the accrual entry, which is used to record a revenue or expense that has not yet been recorded...Read More

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Learn the deferred payment definition and deferred payment meaning. This lesson will provide an overview of deferred payment including what it is, important terminology related to deferred payment, and some examples of deferred payment. Preliminary Expenses are those expenses that are incurred before starting up an establishment for business or extending a running business or...Read More

Content What Is An S Election And Should My Business Get It? Salary vs. Owner’s Draw – Eligible Entities S Corporation Paying Yourself with an Owner’s Draw So, Should I pay myself a draw or salary? Save time and money on a customized accounting plan An owner’s draw requires more personal tax planning, including quarterly...Read More

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Content Train Your Entire Core Exercises Core Alternatives Pole Small Format Interchangeable Core (SFIC) key switch lock, alternative of 1W7E2 (no core) Asp.net core alternative What the hands and arms do is merely a product of rotating through the torso. Return both back to the starting position and then lower the opposite arm and leg....Read More