Job 17 had 4,050machine-hours so overhead would be $8,100 (4,050 machine-hours x$2). The journal entry to apply or assign overhead to the jobswould be to move the cost FROM overhead TO work in processinventory. This rate is used…
READ MOREGaining relevant work experience helps prepare you for an accounting career by teaching you about accounting practices and developing applicable skills needed to become a successful CPA. Specific work experience requirements vary by state, but you should plan…
READ MOREYour bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re tax-compliant. virtual bookkeeping services Occasionally your bookkeeper might need your input on things like categorizing…
READ MOREWith this user-friendly tax software, registered NerdWallet members pay one fee, regardless of your tax situation. This may influence which products we review and write about (and where those products appear on the site), but it in no…
READ MOREAs much fun as it is, it seems like laughing at compilations of clumsy robots may soon be a thing of the past. Compilation Engagement Given this concern, compilations are most common among smaller businesses that have not…
READ MOREFinally, for the buying department to complete the transaction, the accountant will credit the suspense account and debit the supply account. Businesses also use a suspense account to record transactions when there are delays between the receipt of…
READ MOREFreshBooks – Best all round accounting software for SMBs FreshBooks comes packed with great features that allow you to get on top of all your cloud-based accounting and invoicing needs. If your business offers field service, you’ll absolutely…
READ MORETaking the CPA Exam and pursuing CPA licensure is a significant investment in your time and resources, so it’s natural to want to know what the average CPA salary is. While you might already enjoy the accounting profession,…
READ MOREWhile the company has since expanded to online accounting software, many businesses still prefer its desktop solutions. Those who want to take their accounting on the go will appreciate the mobile app. It brings most of the features…
READ MOREThe IRS can refute the presumption of reasonableness only if it develops sufficient contrary evidence to rebut the probative value of the comparability data relied upon by the authorized body. This provision gives taxpayers added protection if they…
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