Once the cargo is loaded on board, you should be responsible for Bookkeeping for Consultants the cargo, including all costs and risks afterward. A furniture manufacturer in North Carolina agrees to sell a dining room set to a furniture retailer in CA. The FOB terms for the transaction are FOB Origin and Freight Collect. What …
Remember to consistently monitor changes in tax regulations, as they may impact your analysis in the future. Non-operating Expenses are costs unrelated to a company’s core business operations. They may include interest expense from borrowed funds, one-time expenses such as losses from the sale of assets, and other costs unrelated to the primary business activities …
To get a zero balance in an expense account, the entry will show a credit to expenses and a debit to Income Summary. Printing Plus has $100 of supplies expense, $75 of depreciation expense–equipment, $5,100 of salaries expense, and $300 of utility expense, each with a debit balance on the adjusted trial balance. The closing …