Bookkeeping

The straight-line depreciation is calculated by dividing the difference between assets pagal sale cost and its expected salvage value by the number of years for its expected useful life. Showing accumulated depreciation separately on the balance sheet has the effect of preserving the historical cost of assets on the balance sheet. The business then records […]

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Cash basis accounting is very easy how is sales tax calculated to understand and implement, contrary to accrual accounting which is not only very complex but also more expensive to implement. Let’s consider how this would work for a construction company that is hired for building work that will take roughly four months to complete.

For example, a loan may be amortized over 30 years but have a 10-year term. In this case, payments are based on a 30-year schedule, but at the end of the 10-year term, the remaining balance (a balloon payment) must be paid off or refinanced. An amortization schedule is a chart that tracks the falling