Social Roles and Social NormsThe study was based on the debate over whether fox hunting should or should not be banned. The study involved two separate sessions where the participants completed a pre-test and were assigned to the pro- or anti- huntin... Read more
Accounting vs. Billing Software: the Key Questions You Need to AskHow to Record Accounts ReceivableThese may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes. Outstanding advance... Read more
Adjusted balance DefinitionFor example, if there were 12 general journal entries that involved cash, there should be 12 general ledger entries that involve cash. The final value for the general ledger is the amount that is included in the trial balan... Read more
Depreciation DefinitionThe journal entry for this depreciation consists of a debit to depreciation expense, which flows through to the income statement, and a credit to accumulated depreciation, which is reported on the balance sheet. Accumulated dep... Read more
The Income Statementconsists of the study of a single financial statement in which each item is expressed as a percentage of a significant total. Vertical analysis is especially helpful in analyzing income statement data such as the percentage of cos... Read more
Is chart of accounts the same as a general ledger?Balance Sheet vs. Profit and Loss Statement: What’s the Difference?When the clock is sold, the company debits cost of goods sold for $40 and records a $40 credit for revenue to indicate the sale of th... Read more
Rules of Debits & Credits for the Balance Sheet & Income StatementOverview of Long-Term LiabilitiesThe balance sheet is organized into three categories—assets, liabilities and equity—and includes five types of account entries. Liabilities hav... Read more
NAIC Consumer Alert: Property InsuranceReevaluating your long-term policy to make sure it fits your needsThis coverage may also protect you from covered hit-and-run accidents. Coverage is subject to policy coverage provisions and limits. What RV insu... Read more
Collect Synonyms & AntonymsWords nearby collectedSome collectors’ items become valuable over time, and others reward collectors through entertainment and a sense of organizational pride. Some of the most fascinating aspects of collecting are the... Read more
Market Value Definition & ExampleIn simplified terms, it's also the original value of the common stock issued plus retained earnings, minus dividends and stock buybacks. BVPS is the book value of the company divided by the corporation's issued an... Read more
