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Yes, you are correct. My so called "adding machine" can multiply. It is, in fact, a calculator! But I will still call it an adding machine... because I can!! :p

Yes... and 80 percent of new restaurants fail in the first year. So as Glinda advised... Start with a business Plan. You can get free help from the SBA. In addition, Business Plans for Dummies is...

All of the above... great information. Another option from the LLC is the S Corp. This offers the same benefits as the C Corp without the double taxation, gives the same liability coverage as the C...

I always recommend starting with an accounting program like QuickBooks for at least the first year (could be short-term or long-term depending on the business). QB is a very customizable program. ...

Aaaah, not so mysterious as it sounds. I am insistent on calling it an adding machine, but I believe the technical term is calculator. However, I have always attributed the term "calculator" to the...

Captain Forest is correct. To make it easier to separate between employee loans and customer/client receivables, I usually set up a current asset account called EE loan. It functions like an...

You have part of the calculation correct. First, This is an estimate, so cash is not being affected here. Your journal for the estimate is as follows:

Dr Tax Expense (Expenses account)

...

This looks like a complete homework assignment. If you have a specific question as to how to calculate or journal a specific transaction, I am sure you will get plenty of help. If you are looking...

I don't know what is required for a Chartered Accountant. However, I am an accountant in California, U.S. and can tell you that most of your math work will involve an adding machine. So if you are...

The following paragraph explains TRIBULUS TERRESTRIS, a natural herb found in supplements sold here in the Us. MDHealthline includes it in their Super HGH. I don't promote growth hormones, and...

Bhet is correct. In addition, you can have overstated income in a period without affecting Inventory. It depends on which transaction created the overstatement. For example, was there a booking...

Hello, we are receiving a new business loan for 750k. There are two fees totalling 2,000.00. 1k for the packaging fee and 1k for the appraisal report costs. The fees are non-refundable. This is...