Our Explanation of Present Value of a Single Amount discusses the time value of money and the need to discount future amounts to the time of an investment or other transaction. The present value of 1 table is used to...
Our Explanation of Present Value of a Single Amount discusses the time value of money and the need to discount future amounts to the time of an investment or other transaction. The present value of 1 table is used to...
Payroll Accounting(Quick Test #2) Download PDF After you have answered all 25 questions, click "Grade This Quick Test" at the bottom of the page to view your grade and receive feedback on your answers. Note: Some of the...
Our Explanation of Bonds Payable covers the recording of bonds, the accrual of interest expense, and the amortization of the discount and premium on bonds payable. You gain an understanding on why the market value of...
What is a defined contribution pension plan? A defined contribution pension plan is one in which the employer contributes an amount into each eligible employee’s account within an established plan. The employee decides...
How do I determine my payroll tax liabilities? Your payroll tax liabilities will include the following: Federal, state, and local income taxes withheld from employees’ wages, salaries, bonuses, etc. but not yet...
What is the double declining balance method of depreciation? Definition of Double Declining Balance Method of Depreciation The double declining balance method of depreciation, also known as the 200% declining balance...
A form of business entity having partners. (Consult with an attorney about this form of entity versus alternatives.)
Our Explanation of Debits and Credits describes the reasons why various accounts are debited and/or credited. For the examples we provide the logic, use T-accounts for a clearer understanding, and the appropriate general...
Our Explanation of Payroll Accounting discusses the taxes and benefits which are withheld from employees' pay as well as the taxes and benefits that are expenses for the employers. Also provided are examples of the...
Our Explanation of the Balance Sheet provides you with a basic understanding of a corporation's balance sheet (or statement of financial position). You will gain insights regarding the assets, liabilities, and...
Also referred to as a “p.o.” A multi-copy form prepared by the company that is ordering goods. The form will specify the items being ordered, the quantity, price, and terms. One copy is sent to the vendor...
Featured Review
"I am currently employed at a food distributor as an account specialist. I have been using your website for about a year now. When I started here, I didn't know very much about accrual accounting, as I had always used the cash accounting method. In my position, I am responsible for entering the company’s JE. I was hired as an account specialist, with the opportunity for a promotion to Staff Accountant. For that promotion to be fulfilled, I needed to learn more about accounting procedures. My manager set goals for me to fulfill and went online to find some online accounting courses. That's when he found your website. At the time, we didn't know how useful the site would be, so we chose not to purchase the PRO Plus option. After using it for some time now, I found the site to be extremely useful. It is very user friendly and has a lot of valuable information. I have learned a great deal from your site. The biggest thing I learned was how the accounting equation works. I've been able to learn more about accruals, deferrals, adjusting journal entries, and more. I also understand more about how the JEs I enter affect our financial statements here. This has proven to be invaluable to me because it has helped me move closer to the promotion of Staff Accountant, which includes a pay raise. I know I have a lot more to learn." - Kim B.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviewsWe now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: